There is no need to buy expensive icon editors and spend loads of time mastering the use of such software. You can create Windows icon from your favorite images on the fly with ease using free application Picture2Icon.
It can easily convert digital pictures in the formats BMP, GIF, JPEG, JPG and PNG to Windows icons (ICO). It also supports creation of transparent icons with option to choose which color should be transparent.
It is a very basic and simple application. Get started by loading a picture in this application and choose among options like: compress, fit and crop. Then select the output icon size among 16X16, 32X32 and 48X48.
A quick check on transparency option and then click on ‘save icon’ button. Your icon made from an image is ready for the use. Download Picture2Icon, it is works on 98, 2000, XP and Vista.