Is it possible to jailbreak iPhone 4S on iOS 6.0.1?

I have looked on YouTube but there seems to be no helpful video. Someone help please!

You need to wait for the software to come out… Don't upgrade for a while or downgrade there are vids on youtube how to downgrade software!

From wat I've been hearing it is not possible

Yes and no. Unthethered isn't out yet, but a tethered is; http://www.redsn0w.us/search/label/Apple?m=1

Yeah, it's possible but it's a tethered jailbreak which most people do not want. Tethered makes you plug it into your computer if you ever happen to run out of battery or reboot the iPhone. Untethered is basically a jailbreak that goes on forever until you update it or restore. So currently there's no untethered which most people are looking for. I'd recommend waiting for an untethered jailbreak as the tethered one is really annoying and can be a hassle if you don't know what you're doing.

You'd rather wait for the untethred version to come out, meanwhile you can: downgrade it and jailbreak it or jailbreak it with the tethred version(its worse, but if you want 6.0.1 its the only way up to now)