The program supports: LL/EXE, BMP, GIF, PNG, JPG, ICO, CUR and ANI. You can extract images from the and edit them to create your own animated GIF.
Apply effects, paint the image, rotate, etc. The images can't be larger than 2048 x 2048, and, when finished they can be exported as JPG, GIF, PNG, BMP, ICO, CUR, ANI, TARGA, TIFF or ICL.
Falco GIF Animatorcan be a good choice if you are thinking about creating GIFs or icons. The large quantity of effects and tools is a good reason to consider it as your choice.