"A free editor to create all types of original cursors."
If you are of the opinion that cursors don`t all have to be the same, then what you need is a tool like Cursorwiz (also known as Cursor Wiz), which lets you create your own, original cursors.
Cursorwiz is an editor to design cursors where you can select different geometric shapes, apply colours and transparency effects, resize the image, etc. Also, it has tools for zoom to work on the clarity of all the details.
The resulting cursor after the design in Cursorwiz can be saved in ICO format, or JPG and PNG.