Easy Icon Maker
Easy Icon Maker is a small and easy-to-use all-in-one icon utility for icon making, editing, changing, extracting, and searching . It allows you editing a transparent or opaque icon. The sizes may be 16 X 16, 32 X 32, 48 X 48, 64 X 64 or custom it as you like. ... This version includes three enhanced icon tools: Icon Changer , Icon Searcher , and Icon Extractor . ... You may import graphic file such as BMP, JPG or GIF and save it into icon file or export icon file to graphic file. ... With Easy Icon Maker, you may edit your own professional icons easily and quickly with the built-in editor.
http://www.qwerks.com/download/5136/iconmaker.exe - 757Kb - Download - Screenshot

Folder Icon Maker
Folder Icon Maker is a Shareware icon utility tool that can be used to combine Mac OS X Finder icons.
http://homepage.mac.com/niteowl69/.Public/Folder%20Icon%20Maker.sitx - 98Kb - Download - Screenshot

Wise Icon Maker
Wise Icon Maker can create icons, extract, and convert all graphics to 32-bit color depth Icon. Include comprehensive collection of drawing tools and effects. Have anti-alias and smoothness functions and excellent 3D gradient effects.
http://www.download-software-free.com/software/wim.exe - 842Kb - Download - Screenshot

RealWorld Icon Editor
RealWorld Icon Editor is a feature rich icon maker and extractor. It is able to create Windows XP and Windows Vista icons directly from images and 3D models. By a single mouse-click, RealWorld Icon Editor automatically renders a 3D scene into image or creates an icon. ... With our icon maker you don't have to be a first class artist and you still can create perfect icons by trial and error in a few moments. ... A library with 36 icons and source 3D models is included. ... Icons can be modified in raster editor with common drawing tools or custom scripted operations.
http://www.rw-designer.com/RWIconEditor9x.msi - 9Mb - Download - Screenshot

RealWorld Designer - Icon Editor
RealWorld Icon Editor is a feature rich icon maker and extractor. Its main advantage is the ability to create Windows XP compatible icons directly from images and 3D models. By a single mouse-click, RealWorld Designer - Icon Editor automatically renders your 3D scene into image or creates an icon. ... With our icon maker you don't have to be a first class artist and you still can create perfect icons by trial and error in no time! ... A library with 37 icons and source 3D models is included. ... On each generated image, a configurable special effect is applied.
http://www.rw-designer.com/9x/RealWorld.msi - 9Mb - Download - Screenshot

ICONStudio
ICONStudio 5. 0 is a powerful advanced Icon Maker & Cursor Creator and Extractor for the Personal Computer. ICONStudio 5. 0 allows you to create and edit 32 x 32 buddy icons as well as import and export Icons. You can create Cursors ias well. The program can create and edit icons with image... Both button as well as menu oriented interface is incorporated into the icon maker. ... The icon maker inludes a full set of Paint & Editing tools include: Pixel Paint Pencil, Color Picker, Flood Fill, Eraser, Transparency Tool, Text Tool, Line Tool, Rectangle and Ellipse Tools.
http://www.caltroxsoft.com/products/active-iconstudio.htm - 3Mb - Download - Screenshot

Icon Constructor - advanced icon maker
Icon Constructor converts BMP, JPEG, GIF, PNG, PSD, TGA and TIFF formats into Windows icons. You can find many images on the Internet and convert them to icons for use on your Windows desktop, in applications and much more. It supports Windows XP icons in 32-bit color depth with an alpha... By clicking on this icon default e-mail client will start and you? ... With just a few clicks, any image you find on the Internet or create in a paint program can be turned into an icon. ... This robust program works like the Swiss Army knife of icon creation!
http://www.iconconstructor.com/download/iconconstructor_setup.EXE - 3Mb - Download - Screenshot

IconCool Editor
IconCool Editor is a powerful icon editor to edit icons, cursors and web graphics. It comes with all the functions for creating and editing ICO, CUR, ANI, ICL, GIF, JPG, BMP, EMF, WMF, TGA and WBMP image files. In addition, it offers more than 50 image filters, including Blurring, Sharpening,... A powerful icon maker, icon creator, small image editor and small graphics maker. ... Supports XP 32bit icons. ... . ... In addition, it offers a 100-level Undo/Redo function, support for non-standard icons sizes and more.
http://www.icon-creator.net/iconed5.exe - 6Mb - Download - Screenshot

Magic Image Studio
Photoshop is a good tool for painting, but the operations are too complex and scrounges large numbers of the system resources. Now, come and try "Magic Image Studio" to embellish your pictures. This is a Image Studio contains the Picture Editor: Fantastic Painter, the Effect Editor: Amazing... You can use the software to paint or adorn your pictures and build your own ICON more easily and quickly! ... Studio contains some practical tools as well: * Practical screen grab tool: Quick Screen Grab * Color tool: Color Straw which supports Hex and RGB.
http://fj.sicasoft.com/sicasoft/down/ap20.zip - 8Mb - Download - Screenshot

Paint Express
This image editor fully supports ICO, CUR, BMP files of all color formats including 32-bit, reads PNG, JPG, JPEG files. Use this image maker to create multi-format icons/cursors from existing images in one click. With Paint Express, converting professional images with transparency created using... Use this image creator for creating an 8-bit bitmap from a 32-bit bitmap, a 32-bit icon from a 4-bit icon, etc. ... Edit, save, print, or convert the captured picture to an icon/cursor/bitmap. ... Use this application as a convertor to easily transform digital images from one type to another:...
http://www.slavasoft.com/zip/paintexpress.zip - 2Mb - Download - Screenshot