4Media Ringtone Maker is a great application to make ringtones for your mobile devices (iPhone, BlackBerry, Google phone, Windows Mobile, Nokia, Motorola, Sony Ericsson, LG, etc.) from almost any audio and video file. The outputs may be saved as MP3, WAV, M4R, AMR, M4A or OGG audio file.
The program has a simple and intuitive interface, and is easy to use. All you will need to do to create a ringtone is just add a music or movie file, clip any part of it by setting start and the end point of the segment, define the output file name and folder, and click on the Start conversion button. Moreover, you will be able to apply fade-in and fade-out effects to the clip, set the output volume, sample rate, bitrate and the number of channels. Also the application lets you play the clip on the built-in player before starting conversion.
Unfortunately, the program is not free, but you can easily download its evaluation version and test the program. Still, there are some limitations: you will be able to convert only 10 seconds of a file, and the clip option does not work.