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. It 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. Image rotation, various adjustments and filters also available. Contains a library of sample icons.

IconEdit2 provides single-window, user-friendly interface. At the left there is a drawing area.
It allows user to draw icon image using different drawing tools.
At right there are tool buttons:
- Point tool
Allows user to draw points and freehand lines;
- Line tool
Allows user to draw straight lines.
- Ellipse tool
Allows user to draw ellipses - outlined or filled with current drawing color.
- Rectangle tool
Allows user to draw rectangles - outlined or filled with current drawing color.
- Spray tool
Allows user to draw soft-edged spots or wide lines with current drawing color.
- Fill tool
Allows user to fill uniform-colored areas, bounded by other colors, with current drawing color.
- Search tool
Allows user to search directories in your hard (or floppy, or CD, or network, or other) drive to find icons in *.ICO, *.EXE, *.DLL files, and also bitmaps in *.BMP, *.GIF, *.TIF, *.TIFF, *.JPG, *.JPEG files which are possible to convert to icons.
- Camera tool
Allows user to make snapshots of any 48x48, 32x32 or 16x16 screen area.
- Hand tool
Allows user to shift drawing in any direction.
- Color thermometer tool
Allows to select drawing color from the drawing itself.

IconEdit2 is the Shareware version. The full version can be purchased by clicking on the "CLICK HERE TO ORDER" button below for around  20.00USD.