Mashtone from the Echo Nest

I don't normally post about ringtone editors, but this one is from the Echo Nest and looks like a lot of fun, and it is free:

Create Ringtone MASHUPS from ANY song on your iPhone or iPod Touch!

1. Pick your favorite track
2. Choose an effect to add and hit REMIX
3. Select where you want to start the ringtone and hit Save

Mashtone is powered by The Echo Nest, a music and audio intelligence company started by two MIT Media Lab kids.

Here are some of the audio effects you can use:

• More Cowbell - add a rhythmic cowbell on the beat to any song.
• Big Fill - Add the manic drummer from the 80s to your tune.
• Extra Beat - turn a danceable 4/4 tune into a song with an extra beat, by repeating the last beat of each measure.
• Beat Reverse - Play a tune backwards, beat by beat.

NOTE: You'll need to use iTunes to associate the ringtone with a contact on your phone.