This page contains my notes regarding how I created a custom ring tone for my iPhone (v3.1) using iTunes (v9.0.1.8). These are just my notes and assume you already know how to edit an mp3 file using Audacity. If not you can probably find other how-tos for Audacity. I'll be adding some screen shots for iTunes and the iPhone soon.

Start with an mp3 file you wish to make into a ring tone.

Download and install Audacity

Audacity on Sorceforge
Open the mp3 file and edit the song until it is less than 30 seconds
Save the file as a new mp3 file

In iTunes enable ringtones:

Edit / Preferences --> General Tab

In iTunes import the edited (< 30s ) version of the mp3

File / Add File to Library

In iTunes right click on the imported mp3 file and select “Create AAC versionâ€?

In windows explorer find the new aac version of the file (with an .m4a extension) and create a copy with a .m4r extension (ringtone).

In iTunes import the ringtone version of the file

In iTunes sync the iPhone

In iPhone select the new ringtone