UPDATE: A subset of 64-bit iOS devices running iOS 10.2 can be jailbroken with Yalu. Click here for more information on Yalu.
iOS 10 cannot be jailbroken at this time.While developer iH8sn0w successfully demonstrated an iOS 10 jailbreak on the 32-bit iPhone 5, this does not bring a public jailbreak closer to reality. Jailbreaking iOS 10 on 64-bit devices such as the iPhone 5s and later is a completely different task.
It remains to be seen if Pangu Team or others will release an iOS 10 jailbreak for the masses.