My relationship with custom ringtones is rocky. Like 67 percent of geeksugar readers, I use them occasionally (mostly for humor purposes) but hearing catchy tunes coming from inside my coworker's purse can grind my gears. You can keep things contemporary and hip on the cheap with audiko, a free web service that will allow you to make ringtones out of any songs in your music library or download from its large collection of songs.
All you have to do is search the site for your desired song, then download the file to your desktop (so you can transfer to your phone) or save as an iPhone ringtone by adding to your iTunes. If the ringtone you want isn't available, you can create a custom one by uploading your song, cut the clip you want and download it to your phone. Just do yourself a favor and make sure you activate Locale when you get invited to hang out with the president.