AniTuner 2

AniTuner lets you create, edit and convert animated cursors (.ANI files) for Windows. It also lets you create animated GIF, AVI clips, Flash movies or bitmap strips from animated cursors or any other image set. You can resize/edit frames, set frame duration, change color depth, create 32-bit XP/Vista cursors with partial transparency (alpha channel) etc.
Download one of the portable packages (ZIP or self-extracting EXE) and extract to a folder of your choice. Launch AniTuner.exe.
Ссылка: http://www.gdgs..d/anituner.aspx