I'm a big fan of MS Paint for its simplicity. And Paint is available in all Windows after all. But I didn't realize that Paint can create ico files too.
Whenever I tried to save a file in paint, I drop down file types available and I've never seen .ico, so I thought I can't save it. But you know, if you give file name with .ico, Paint create icon files for you.
You can use those icon files for your folders or even for favico. It's cool!!