Does the iPhone 4S supports Bluetooth pairing with iPad mini?

Yes

Only from within peer-to-peer apps from the app store or internet tehering (if proved by the carrier)

They support bluetooth for handsfree telephone, stereo music, some keyboards, some peer-to-peer apps from the app store, and internet tethering when provided by the carrier.

Other than these it will not connect to another iphone, phone, computer, device, ipad

look at roaminggnome reply

Manotin wrote:

When I try to pair them the the iPad says its not supported. What can I do??

This support document http://support.apple.com/kb/HT3647 explains what bluetooth profiles the phone supports. If you are trying to do more than that, it is not going to work.