IconDroplet is an AppleScript Droplet that takes raw icon files (*.icns) and turns them into files that are embedded with the icon. After the files are processed you can "Get Info" on the resulting files and copy/paste the icons to other items.
Full Specifications
What's new in version 1.5
General
ReleaseAugust 12, 2010
Date AddedFebruary 10, 2009
Version1.5
Operating Systems
Operating SystemsMac OS X 10.4 PPC, Mac OS X 10.5 PPC, Macintosh, Mac OS X 10.4 Intel, Mac OS X 10.5 Intel
Additional RequirementsMac OS X 10.4 or higher (may work on earlier versions, but is untested)