It looks like the Chronic dev team has pushed out an update to GreenPois0n that should make Verizon iPhone owners happy - a jailbreak to iOS 4.2.6, which works on both Mac and PC, but if you have a Verizon iPhone, then you'll find that only the Mac version works for you.
Quickpwn has a great tutorial already set, so no use repeating what they've done, but here's the gist:
Update iTunes to the latest version. Plug in your phone. Close iTunes. Run GreenPois0n to get your phone in DFU mode. Jailbreak. Install Cydia.
Voila, you're officially jailbroken!
I'm amazed that someone had a jailbreak for Verizon phones out this early, but it's a good sign. Try it and let us know how it works for you. As I don't have a Verizon iPhone (yet), I've been unable to test it for myself. I'll wait until the 4.3 jailbreak arrives for my ATT iPhone 4.
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