iPhoneRingToneMaker 

iPhoneRingToneMaker is an audio editing utility for Windows. Although there are many applications that allow you to make ringtones, this one is special. It allows you to create ringtones for your iPhone. Apple is charging for users to download ringtones from iTunes. And originally, you could only use a song that you purchased from the iTunes store. Of course, there is nothing wrong with that. iPhoneRingToneMaker allows you to create ringtones from any existing MP3, WAV, or OGG music file that you have on your computer. There are even a bunch of other features that make this application grate. The main one is that it even copies those tones to your iPhone automatically and can retrieve them from it, too. You can also add fade-in and fade-out effects, which make your tones sound way much better. You can even modify the ring-tones after you have sent them to your iPhone. The application, as you might have guessed, does not come free of charge. It costs around 15 bucks, but if you use a lot of ringtones, it will end up saving you money. And you can use any song you want, no matter where it comes from.