The T-Mobile myTouch 4G hasn't been out very long and it's already been rooted. On average roots for new devices usually take a few weeks, but it appears that the some of the work done on the root of the G2 was able to be used for the myTouch 4G.

The root instructions seem a bit long so if you're not comfortable with rooting phones you should probably hold off until custom ROMs start popping up. If you're a risk taker and don't care about bricking your phone, have a look at the instructions below.