IconEdit2 is a truecolor icon editor for Windows 95/98/ME/NT4/2000/XP.

It supports ICO, ICL, NIL, EXE, DLL, GIF, TIFF, BMP and JPEG files for open/extract/convert to icons. Can save your work as 48x48, 32x32 or 16x16 ICO (TrueColor, 256-color or 16 color), as well as GIF, TIFF, BMP or JPEG files. Allows you to paint, undo/redo, search for icons in your files and capture any 48x48, 32x32 or 16x16 screen area. Contains a library of sample icons.