Most people I know like to configure custom ringtone(s) on their iPhone so that they aren’t listening to the boring stock ringtones every time someone tries to get ahold of them. Users have the option of purchasing ringtones from Apple’s iTunes Store or creating their own with the help of dedicated software.
If the iPhone you plan to create ringtones for is jailbroken, then you now have the additional option of using a new jailbreak tweak dubbed Sonic by iOS developer Zeph. By design, Sonic offers users an all-in-one solution for creating and importing ringtones and text tones to the ringtone/text tone libraries from the iPhone itself.