(you need an account to see links)
I found how to on this site. Easy to do if you follow every steps carefully. I found it very useful, because I didn't know how to start the song I wanted as ringtone where I wanted.
Its easier to use (you need an account to see links)
The site has a upload your own song (select your custom part)
Or a selection of free ones.
After Selecting/Creating your ringtone you can download it specifically for an iPhone or any other regular phone.
~~~~~~~FOR IPHONE USERS~~~~~~~~
*Try Keeping TEXT Tones small or it wont work*
Save the ringtone to your desktop.
Open Itunes
Under the "File" option
Click Add file to library (Or Ctrl+O)
And select your ringtone...
Then it will be under your tones
Thanks for adding it I haven't really searched for easier way to make free ringtones x)
I'm also using this (you need an account to see links) to get songs from Youtube.