MacNewsBlog

Hokey Smokes Bullwinkle! An Apple Support Document released today actually tells you how to create custom ringtones using GarageBand 4.1.1!

From the document:
To create a custom ringtone:

1. Set up a cycle region that covers the area you wish to use in the GarageBand song. Note: This area must be 40 seconds or less in length.
2. Once the cycle area has been set, choose Share > Send Ringtone to iTunes.

So, it's official! Apple supports user created ringtones and not only ringtones sold on iTunes. This is great news!