A simple, easy to use icon editor. It has very similar functions with Sib Icon Editor. Recommend the Sib Icon Editor because it's free but has more functions.

Junior Icon Editor will help you to

• Create and edit icons in color depths up to 16 million colors
• Create and edit icons for Windows XP in 32-bit color depth with 8-bit alpha channel
• Paint images with pen, brush, airbrush, ellipse, rectangle, line, curve tools
• Roll, shift and rotate images
• Import and export .ico, .bmp, .png, .xpm, .xbm, and .icpr formats
• Sort images inside icons
• Copy and paste images to other applications
• Copy and paste color values from the clipboard

Download: http://www.sibcode.com/junior-icon-editor/index.htm
Homepage: http://www.sibcode.com

Screenshot: