Go to documents and create a folder called iPhone ring tones or any other name that you want for your ringtones
Go to tools ( its all the way on the top of the screen)
Go to folder options
Go to the view tab
Scroll down to hidden folders and files and then select show hidden files and folders
After you completed the 6th step Uncheck the box thats says hide extensions for known file typesOpen iTunes
Select the Song you want to be a ringtone
Right Click the song and select get info
Go to Options and select the start time and the end time of the ringtone make it around 30 second
After you complete step 11 you click the ok button and you get back to the song list screen with the highlighted song. Right click the song and covert to acc
After the song is finished converting you right click the song and hit copy
Copy the song to the folder you made in your documents
Go in to iTunes and delete the song you made ( DO NOT DELETE THE ORIGINAL SONG)
It will ask you to remove the song click remove and then a nother screen will pop up and say put in recycle bin or keep file you want to keep the file( The ringtone will be saved in the folder)
Navigate to the folder you created for you ring tones and right click the ring tone and change the extension from .m4a to .m4r a pop up warning you that the file may become unusable just ok(The icon will change from Mpeg 4 to ring)
Open iTunes and open the ringtone folder under library(if the ringtone folder is not there go to edit preferences the check the selection that says Ringtones)
Drag the ringtone to your iTunes ringtone library and your finish all you have to do is sync your iphone and select the ringtones you want to sync on the sync screen and select apply and sync