How to Downgrade Your iPad 2 From iOS 6.x to iOS 5.x (Mac)

Step One
Create a folder on your desktop called Pwnage

Download the latest version of RedSn0w from here and place it in the Pwnage folder. Likewise, download the 5.x firmware you would like to restore to and the 4.x firmware you have saved SHSH Blobs for from here and place it/them in the Pwnage folder.

Extract the RedSn0w zip file by double clicking it.

Step Two
Right click or control-click the redsn0w application from the redsn0w folder we extracted earlier and choose Open from the popup menu that appears.

Step Three
Click Extras from the main menu.

Step Four
Click Even More from the Extras menu.

Step Five
Click Restore from the Even More menu.

Step Six
Click IPSW from the Restore menu, choose the IPSW you would like to restore to from the window that appears, and click Open.

Step Seven
When prompted, connect your iPad 2 to the computer in normal mode and click OK

Step Eight
You will be informed that a 4.x IPSW will be required to continue. Click the OK button.

Step Nine
Select the 4.x firmware IPSW from the Pwnage folder on your desktop and click Open.

Step Ten
Your iPad will now be placed into recovery mode.

Step Eleven
RedSn0w will check Cydia to see if you have the correct blobs saved.

If RedSn0w is unable to find your blobs automatically click the Remote button to try again or you can click the Local button to search for blobs on your computer.

Step Twelve
RedSn0w will prepare the 4.x restore image.

Step Thirteen
You will then be prompted to place your iPad into DFU mode. You can find more help with DFU mode here.

Hold down both the Home button and the Power button for 10 seconds.

Release the Power button and continue holding the Home button for another 10 seconds. You screen should stay blank.

Click the OK button to continue.

Step Fourteen
RedSn0w will now restore to iOS 4.x.