✔Set starting and ending points for a clip within the audio file, using an optional touch interface.
✔Play the selected portion of the audio, including an indicator cursor and auto scrolling of the waveform.
✔Play anywhere else by tapping the screen.
✔Save the clipped audio as a new audio file and mark it as Music, Ringtone, Alarm, or Notification.
✔Record a new audio clip to edit.
✔Delete audio (with confirmation alert).
✔Assign a Ringtone directly to a contact, you can also re-assign Ringtone from contact.
✔Manage contact Ringtone.
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Disclaimer:
Ringdroid and RingsExtended source code:
http://code.google.com/p/ringdroid/
http://code.google.com/p/apps-for-android/
SoundRecorder:
https://android.googlesource.com/platform/packages/apps/SoundRecorder/
Apache License, Version 2.0
http://www.apache.org/licenses/LICENSE-2.0.html