The Ringtone Maker is a Windows Phone App from Nokia Corporation that lets you create ringtones from the music on your Windows Phone device.
If you are using Nokia Windows Phone 8 devices like Lumia 920, Lumia 820, Lumia 822 etc., and then you might easily find the Ringtone Maker in the Nokia Collections. You can also download the Ringtone Maker for Windows Phone 8 from the Windows Phone marketplace.
The music on your device can be saved and used as ringtone by opening the audio file from the app and trimming it.
The Ringtone Maker requires Windows Phone 8 and the current version of the Ringtone Maker for Windows Phone 8 is 220.127.116.11
Know more about Ringtone Maker from Windows Phone marketplace