MakeiPhoneRingtone is a quick drag and drop utility to turn AAC files into ringtones for your iPhone. Make ringtones from audio you already own, instead of purchasing it again and again.
Works with iTunes 7.5 and iPhone OS 1.1.2 (both required)
OSes: OS X 10.4 – 10.5.1. Architecture: PowerPC, Intel
Download: MakeiPhoneRingtone 1.3.1