A free app for Android, by 302 Lock Screen.
MP3 Video Cutter is a free audio editor and video cutter app that lets you easily cut audio from videos and save it as mp3 or wav.
This app is also a perfect music cutter and notification maker, it has the ability to cut audio from videos and create mp3 alarms, notification tones, and even music for your android phone.
You can manually set the start and end time by sliding the slider, and you can also manually set the name of the new clip you are creating.
This app supports most audio formats and it has the ability to save the clips you create as ringtone, notification, and alarm.