One of the things that Apple hasn’t made easy for iPhone owners is providing a way to create custom ringtones, and users have to pay Apple $ 1 for a song, plus an extra $ 1 to convert that song into a ringtone, this is ridiculous of Apple to charge you to even create ring tones for the iPhone even if you have purchased the song legally through iTunes.
Now moving forward without worrying about Apple too much, you can make your own custom iPhone Ringtone using any mp3 or DRM-free song in iTunes, below is a quick and easy tutorial to create a ringtone from itunes Songs for your iPhone for free using nothing but iTunes, I have tried it myself and it works really great. No iPhone hacking, jailbreak required. making a free iPhone ringtone from a song just takes a few simple steps to complete:
Open iTunes, in your iTunes library, select the song you want to turn into a ringtone.
Step 2. Right click on the song > “Get Info”.
Step 3. On the “Options” tab, use the “Start Time” and “End Time” boxes to customize the start and end times for your ringtone clip, make sure that your ringtone 40 seconds or less and press “OK” when finished
Step 4. Click on “Advanced” in your menu bar > Select “Create AAC Version”. A duplicate copy of your song will appear in iTunes, with the same filename but shorter “Time” (go back to the original song and uncheck those “Start Time” and “End Time” boxes).
Step 5.Drag the duplicate song to your Desktop, right click on it and select “duplicate”, once the duplicate song has been created on your Desktop, delete the duplicate file in iTunes.
Step 6.On your Desktop, rename the file’s extension from “m4a” to “.m4r”.
This turns your song file into an iPhone ringtone file.
Step 7.Drag the newly renamed .m4r (songname.m4r) file back into iTunes and you should see your new ringtone under “Ringtones” in iTunes
Step 8. Set your iPhone preferences to sync ringtones, then sync your iPhone and you are done!
Note: This will only works with MP3, ACC, AIFF files and DRM-free songs . if the songs downloaded or purchased from iTunes Music Store have DRM (Digital Rights Management)Protection, they won’t work, but you can convert itunes protected aac to mp3 first, then can still make iTunes bought music files as iPhone Ringtone following above way.