Today the people behind Google 0 Day project have published a full app / exploit that is able to gain shell root access over iOS 10.1.1. For the moment, the exploit comes bundles inside an app that requires Xcode for compilation, but hacker Luca Todesco made a twitter post about his intentions;
Google 0 Day team is focused on finding 0 day exploits, and as you can see, they publish these exploits as open source, so anyone has access to them. The exploits behind the tool are able to allow you to run any kind of binary you upload to the device, and you can run any app regardless of the Code Signing Entitlements.
This is more of a Barebone Jailbreak for the moment and it is yet to be updated more to make it more user friendly, as for the moment it is intended for devs.
If you are on iOS 10.2, DOWNGRADE NOW!
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