FGTMakers.com's online tool allows you to create emoticons online for MSN and Windows Live Messenger. Ypu can create emoticons for MSN Messenger directly by selecting the text, animation, background, and much more.
To save the created emoticon you can simply click on the "Save" button next to the preview and select the folder where you want to save it.
Once you saved the created emoticon on your computer, you can insert it in the list of emoticons for your MSN Messenger to use it in chat with your friends.
Create Emoticons for MSN Messenger