Jailbreaking is heavily dependent on your iOS version and device model. The scene is currently divided between "Rootful" (traditional) and "Rootless" (modern) jailbreaks.
Rootless Jailbreaks (The Modern Standard - iOS 15.0 to 16.6.1, 17.0) Apple drastically changed the filesystem in iOS 16, meaning older jailbreaks broke. The community adapted with "rootless" jailbreaks, where tweaks are stored in the user partition rather than the system partition.
Rootful Jailbreaks (Older iOS versions)
Note: If you are on iOS 16.7+ or iOS 17.1+, there is currently no public jailbreak. You must stay on a lower version or use sideloading methods like Zeus.me.
Potential dangers you must know:
Recommendation: Use a secondary Apple ID (not your main one) and never log into iCloud or banking apps inside a tweaked app.
A tweaked app is a modified version of an original iOS application. These modifications are made by reverse-engineering the original app's code (decompiling it) and altering specific parameters. zeus.me - ios tweaked apps jailbreak
Common modifications include:
Ethical use case: Emulators (legal in most countries) or testing your own app modifications. Jailbreaking is heavily dependent on your iOS version
Apple has started cracking down heavily on accounts that frequently sideload apps.