Sometimes all you need is a Simple Icon Editor...

X2 studios - LiquidIcon XP Editor

"LiquidIcon XP is one of the most popular Icon Editors in the world. Best of all, it's completely FREE (no Adware, Spyware, Guaranteed), portable and lightweight, and works on every version of Windows!

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Some of the more important features are:

• Integrated Icon Browser for easy icon extraction
• Several useful image manipulation functions
• A set of image effects that will help you in your icon creation
• Standard set of image editing tools

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The download above is an uncompressed, ready-to-run executable. You may need the Microsoft VB6 Runtime Libraries..."

Sometimes all you need is a simple icon editor...

LiquidIcon XP is a nice, simple and sweat Windows icon editor, that's thumbdrive compatible.

(via The Portable Freeware Collection - LiquidIcon XP V1.0.4)