IconoMaker

IconoMaker is a comprehensive icon editor with multiple tools to design appealing icons in the style of Windows XP. You can make your icons smooth, translucent, etc. You also have at hand a good number of drawing tools, brushes, lines, curves, text – all of it integrated into an easy-to-use interface. It lets you work with multiple icons simultaneously and with all types of formats and sizes. The program is also completely free.