IcoFX - IcoFX is an all-in-one solution for icon creation, extraction and editing.
RealWorld Icon Editor - Create Windows icons and Mac OS icons from images and 3D models in an integrated icon maker.
VistaCreate - The VistaCreate is a free and global digital platform which is known for sharing, searching, finding, and creating great art.
icoworks - .ico editor for Windows 8 and Windows RT
Aseprite - Aseprite is an art program dedicated to the creation of pixel art.
Icon Generator - Icon Generator is a little application built on AIR that lets you generate a CS5 or Web 2.