Summarize:

Your audio files should appear automatically in the application. If they do not, check that they are properly stored on your SD card.     " Name the ringtone. Your ringtone should be saved in your ringtones folder on your LG phone.
Open the Ringdroid app. Choose the song you want to turn into a ringtone. Play the song once, to select which portion of the song you want to use in your ringtone. Move the gray sliders on either side of the screen to select the start and end point for the ringtone. Click "Play" to play the ringtone as you edit it. Select "Save.