Create Quick and Easy Icons using Little Icon Editor (from Smashing)
Little Icon Editorhelps you get the task done in a couple of minutes. You can create 16×16-pixel icons quickly and easily and preview them in real time at 100% or 200% of their actual size. The tool has a single purpose, but it does the job well. Once your image is complete, just drag the preview to your desktop or right-click and select "Download image." (cc)
This helpful tip is courtesy of Smashing Newsletter #19.