Once you saved the created emoticon on your computer, you can insert it in the list of emoticons for your MSN Messenger to use it in chat with your friends.
Go to the homepage of Windows Live Messenger (where are all your contacts) and press the F10 key
In the menu that appears at the top click on "Tools" and then "emoticons". It will open a window with all your emoticons
Click on "Create...", it will open a new window from which import the created emoticon
Click on "Find Image..", now browse your files until you find the emoticon that you saved earlier and then click "Open".
At this point in the second text box, type a name with which you draw your emoticons when chatting (for example if you write "Hello" every time you type this word will appear in chat your emoticons). Then click "OK".
You finished! Now open a chat with a friend and try to write the word you choosed: it will appear your custom emoticon!