If you’re the proud owner of a shiny new Samsung Galaxy Nexus, you’re probably already looking for a simple method to root your device. If this is the case, boy do I have a treat for you. Thanks to Chainfire, a recognized developer from the XDA Forums, we now have a simple tool that can  modify an existing ROM when booting, to automatically give you superuser (root) access, and busybox for full shell access. When using this tool, you’ll be able to easily flash new ROMs without the fear of losing root.
THIS IS NOT A ROM – it is only a modified kernel. You need to have the relevant firmware already on your device. You do NOT need to wipe anything for this patch. You DO need to read the instructions. PLEASE READ THE ENTIRE FIRST FEW POSTS!
Main features
– The kernel is fully stock and taken from the original firmware, with just the following added:
– Superuser v3
– Busybox v1.19
– Custom boot / init scripts
– Insecure
Head on over to Chainfire’s thread on XDA for all the 411. As the quote above says, make sure to read everything carefully before doing anything else. Nobody is responsible but you if your phone bricks, so please take care.
Source: XDA