DeGraeve: Favicon Editor - An online favicon editor by Steven DeGraeve, which also offers the option to generate a favicon from an uploaded PNG image. - http://www.degraeve.com/favicon/
Graphics Guru: Favicon Generator - Free online tool that can create favicon (.ico) images. - http://www.graphicsguru.com/favicon.php
Favicon Generator - A free online tool which creates a favicon.ico from an uploaded image. - http://www.favicongenerator.com/
AntiFavicon - An online tool which creates text favicons in different colors. [Italian and English]. - http://antifavicon.com/
Dynamic Drive: FavIcon Generator - An online tool to create a favorites icon for a Website. Capable of generating desktop icons as well. - http://www.dynamicdrive.com/favicon/
FavIcon from Pics - Generates favicon images for browser address bars, favorites and tabs, from pictures, logos and other graphics. - http://www.chami.com/html-kit/services/favicon/
Collabyrinth - A free, online icon editor by Andy Deck for producing favicons in the windows ICO format. Requires Java. - http://artcontext.org/act/02/collabyrinth/
Favicon.com - Online Java icon editor to create favicon.ico files that customize the marketing logo in favorites/bookmarks. - http://www.favicon.com/