Update #1: Well, that was much faster than anyone expected - RIM has already released the patch for this exploit. The good news is that the patch isn't yet available in the 2.0 Beta, but you can bet that it will be rolled into the update before it hits the masses in its final form. If you happened to accept the update on the current version and still want to give this exploit a try, then you can always downgrade the OS.
Update #2: Aaand the patch has now been circumvented yet again, less than 24 hours after it was issued by RIM.

So, you bought into the hype and picked up the tired old Blackberry Playbook. There's a good chance it's not doing much more than hanging out on a shelf, your desk, or in your laptop bag at this point - but if you're ready to actually get some use out of the little device, it's time to blow the dust off that thing and get ready for some root action. Once the device has been exploited, you'll be able to install all Google Apps on the device, including the Android Market.

The tool used for the job, humorously named Dingleberry, has been in the works for a while now, but only recently has become available for the public. In order to for the exploit to work, the 2.0 beta must be installed on the Playbook - and that's just the beginning; the full instruction set isn't for the faint of heart. If you're not familiar (or comfortable) with root ssh shells, scp clients, or .bar files, then it's probably best if you skip this one.

Like most device makers when their devices are exploited, RIM is none-too-happy about this one - a company spokesperson issued a statement to All Things D regarding the matter:

RIM is aware of reports that a security researcher has released a tool designed to allow BlackBerry PlayBook users to jailbreak their tablet. RIM is following its standard security response process to investigate the functionality and impact of this tool and if needed, RIM will develop, test, and release a software update that is designed to minimize the potential adverse impact to our customers.

In other words, they'll be working on a patch to "fix" the exploit. In the meantime, if you're willing to give it a go, you can find the full instructions here, and the Dingleberry download right here.

Good luck!

[All Things D]

P.S. - Dingleberry. lol.