We have number of tools to create ringtones from audio files stored on the computer or available online. Mad Ringtone is a cool web service that allows you to create ringtones from Youtube Videos. It allows you to extract audio from a Youtube video, then cut it as per requirement and finally save it as ringtone.

Related - Cut Mp3 songs to make ringtones, cutter software
To get started, enter URL of Youtube video whose audio you want to use as ringtone. You will see audio graph of audio contained in selected Youtube video. You can preview the audio before the ringtone making process. Hold the Ctrl key and click the part of audio graph to cut the portion of audio that you need for the ringtone.
After audio selection you can save the ringtone. Further you can download the ringtone in either of mp3, amr, ogg and m4r audio format. You can embed newly created ringtone on your blog or website using quick embed code. Besides making ringtones from Youtube, you can also use this service to create ringtones from audio files stored on computer or online. Checkout Mad Ringtones for cool ringtone creation using Youtube videos, pretty neat!

Will you share more about it? I just want to know more.
I want to make friends with you, can you pm me?