Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
I was wondering if I can assign a custom ringtone for a contact?

You can as long as its a ringtone you have on your phone. Go to the contacts/phone app. Select the person you want to change, edit their info. One of the options is ringtone. It'll be set to default. Select that and you'll be brought to your ringtones page to give them a specific one.

Edit:Ajones beat me to it.
 
Open up your contact list. Select whoever you want to assign a ringtone to. Click the edit button in the top right hand corner and you will see an option called "ringtone" appear. You can also set different text tones for different contacts.
 
Were you three racing or something? Three replies within 60sec!

OP- I think if you go to your contact list and press assign ringtone it may work. I'd wait for a few more people to confirmation though.
 
custom ringtones are great I can tell whos calling before I even look at my phone.

check my signature for a list of over 300 usable ringtones, and as the others have stated it is quite easy to assign ringtones to your contacts.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.