audiko.net is for you. Audiko allows you to upload your own audio files and then cut them to the part that you are interested in. You can also extract audio from video files. If you don't want to create your own personal ringtone there are plenty of free ringtones available for you. Just search the site and you will find tons of them. When you find one that you like just click on download ringtone for Iphone. Make sure it is in the .m4r file format. You can then sync with Itunes and transfer these cool ringtones to your Iphone. The great thing about this site is that it is free and has a huge selection for you to choose from. You are bound to find something that you will like. Enjoy!