ToneFXsCreator

Tone FXsCreator is an application that allows you to create toneFXs from any music of your library and be sent to your iPhone.

It is not a ringtone creator.
Instructions:
From the main window you have to click on "My Music Folder" or "Browse Computer" to open an audio file. The formats enabled are mp3, ogg, wav, aac, m4a, and m4p. You will see the length of the audio file and two arrows green and red, with these arrows you can choose what part of the audio file will be sent to the iPhone like a ToneFX by clicking and dragging the mouse. You have up to 15 seconds for the ToneFX. You can fade in or fade out the selected audio to improve your ToneFX. You can preview the song and when you are done you have to push the button "Send ToneFX to iPhone” and the program will make the conversion and it will send the ToneFX to the iPhone.
Inside the iPhone ToneFXs is a Suffle. This allows you to shuffle all the ringtones you have in your iPhone or you can select the ringtones you want to shuffle. You can also customize your iPhone ringtones for Text messages, voicemail, received mails, calendar alerts, keyboard clicks and so forth.
To install this application in your iPhone you need a Jailbroken iPhone, launch the Cydia App, go to sections, select all packages, select ToneFXs and install.
Some functions won't be available with the trial version. The price described is for donation, but you can donate more. If you make a donation, you will receive a serial number to remove the trial limit.
Available for Mac OS X Leopard, Windows XP and Vista.