Found a excellent explanation on to how to create a Favicon for your website, and wanted to share it with you all.
Heres the latest one I created using this tutorial (look closely, there really small!)

A Favicon is a little custom icon that appears next to a website’s URL in the address bar of a web browser. They also show up [...]

Im a big fan of the Six Revisions website, and I suggest you add it to your bookmarks. One of the latest articles I was reading on their was
5 Web Files That Will Improve Your Website …. cover robots.txt, favicon.ico, sitemap.xml, dublin.rdf and opensearch.xml. Their purposes range from helping search engines index your site accurately, to acting as usability and [...]