Aha-Soft ArtCursors is an advanced cursor editor for Windows. ArtCursors allows you to find, create, edit, import and export cursors and manage cursor libraries.
With ArtCursors you can:

    * Create and edit static and animated cursors in color depths up to 16 million colors
    * Create and edit cursors for Windows XP in 32-bit color depth with 8-bit alpha channel
    * Create and edit animated .gif images
    * Create and store images containing several layers
    * Paint images with gradient and chess fill
    * Modify images with drop shadow, opacity, smooth, negative, grayscale, colorize, rotate, roll and mirror effects
    * Import cursors from .cur, .ani, .ico, .icpr, .wmf, .emf, .bmp, .wbmp, .jpg, .gif, .xbm, .xpm and .png files
    * Export cursor images to .cur, .ico, .icpr, .bmp, .jpg, .gif, .png, .xbm, .xpm, .wbmp and .rc files
    * Export animated cursors to animated .gif images and image list bitmaps
    * Extract cursors from Windows executables, libraries and animated cursor files
    * Create cursor libraries for better and more efficient storage
    * Collect cursors from folders and subfolders into libraries
    * Work with image lists in BMP and PNG formats
    * Delete identical cursors in libraries
    * Drag and drop files from file shells
    * Drag and drop cursors from one library to another
    * Drag and drop cursor images from one cursor to another
    * Copy and paste cursors in libraries
    * Copy and paste images to other applications