Hmm sounds like your looking in the wrong menu. I don't know if it's any difference between iphone 4 and 4s. I got 4s and on mine I scroll down a bit in the network-menu, under "data-roaming" I have internet-sharing. That's where I click and then enable internet-sharing. Once enabled, devices connected to the phone through wifi, bluetooth or usb can utilize the phone as as a modem.
I'm not sure if the data goes through the usb(snap-in adapter) or bluetooth. Hopefully through the cable since that allowes for much higher data transfer-rate than BT.
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