Okay, here is a simple way to get free ringtones on the iPhone by exploiting the existing collection of songs in iTunes:

1. Open iTunes
2. Find songs in iTunes collection to be used as ringtones
3. Listen to the song, and look where you want to use.
4. Record the start time and end of a song that, for example 1:00 to 1:40. (Maximum length 40 seconds)
5. Right click the song title and choose ‘Get Info’
6. Click the tab ‘Options’
7. Enter the beginning part time who want to take on the Text Box ‘Start Time’. For example, 1:00
8. Enter the final time on the Text Box ‘Stop Time’. For example, 1:40
9. Click OK
10. Right-click again the title track and select ‘Convert to AAC’
11. If successful, it will display duplicate songs in iTunes with a shorter duration
12. Right-click on the results of earlier pieces and select ‘Delete’
13. On the menu that appears select ‘Keep Files’ so that iTunes does not delete the song from the hard drive
14. Open file location before, usually there in the folder ‘Music> iTunes> iTunes Music’ (or something of that kind) in a folder with the name of the singer / music group
15. Right-click this file and rename it with the suffix. M4r (original files will have the suffix. M4a)
16. Double-click the file that has changed its suffix. iTunes will add the file to her in the Library.
17. Connect your iPhone and do Sync Ringtones