You can download IconLab 1.1 from our software library for free. The actual developer of the free program is Wildfire Software Design. The software is categorized as Desktop Tools.
From the developer:
A small yet powerful icon editor. Features include:
Supports all icon and cursor formats up to 32-bit (Win XP)
Allows addition/removal of formats from a icon file
Good assortment of drawing/editing tools
Supports image effects including alpha such as: Drop Shadow, Blur Shadow, Fade, Scanlines
Apply custom color palettes
Capture on-screen images directly into IconLab for editing
You may want to check out more software, such as Free Icon 32 Editor, IconAnyFolder or hallsbcur, which might be similar to IconLab.