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How can you make a MP3 into a ringtone for your cell phone?

I have one particular song that I want as a ringtone for my phone and I am unable to find it anywhere. I have a MP3 of the song I want in my computer but I'm not sure if I could make a MP3 into a ringtone. If not, what are some good web sites to get good ringtones?

Public Comments

1. I would go to google.com and look for a program called "mp3 cutter" then you can trim down any mp3(not DRM protected) and use it as your ring tone.
2. Hey go to Mixxer.com its awesome for that stuff
3. Use WavePad to make perfect ringtones. Here is instruction and download link. http://www.funformobile.com/pages/help/helpMp3.php