Icon Explorer
Application for browsing, searching, extracting and managing icons in/from files and libraries.
Overview  
Donation
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Description
This tool allows to manage icon libraries, standalone icons and executable that contains icons as resources.
MicroAngelo 16-bit format (icl) and 16-bit executables (NE) is no longer supported and Icon Explorer now creates 32-bit DLLs as icon libraries.
32-bit icons and 256x256 sized icons are supported.

It has powerfull searching tool that searches specified path with directory recursion and examines any file if it contains any icon and then extract it.
Icons can be saved as icons, individual icon images or bitmaps.
Screenshots
Target platforms
Windows 95
Windows 98
Windows ME
Windows NT 4.x
Windows 2000
Windows XP
Windows 2003
Windows Vista
Windows 7
Licence
Free to use for both private and commercial users.