To make your own ringtones do the following
1 - Select a song in iTunes and click on it once to highlight it
2 - In the menu bar at the top of the desktop select File --> Convert --> Create AAC Version
3 - On the newly created AAC Version (which will be at the top of your library if you sort in date added order) Right click/two finger tap to open the menu.
4 - In the pop up menu select Song Info and click the options tab
5 - Put a tick in the start and stop times and then select a period of the song that you want the ringtone for e.g 1min 15 secs to 1min 45 secs (you must ensure it is not longer than 30 secs or it won't work)
6 - Select ok and you should now find that the AAC version shows a playtime of 30 secs (or however long you selected)
7 - Play the clip to ensure it's how you want it.
8 - Once happy drag the song to the desktop.
9 - Change the file type from .m4a to .m4r. Click ok/yes on the warning that pops up.
10 - Connect your phone to iTunes
11 - In the sidebar you will see that you can access the tones on the phone. Drag the newly created .m4r file in there and allow it to sync to your device.
12 - Disconnect your device and go into the ringtones section on the phone and you should then see the ringtone you just created.
13 - Select this as your ringtone.
Voila - you can create your own ringtones from any song you have in your library.
