To start you off with an arrow
  1. Click File
  2. New Project
  3. Simple Cursor
  4. Click Icon and Nudge up down left or right until you have it where you want it.
I extended the handle on my arrow and proceeded to paint a woman... a goofy one yes
Now she looks pretty bad to me... and yes I was laughing at her... but when I changed my pointer to her, she looks pretty darn good.  I was quite surprised.
 
Very Important
Remember to change the hot spot with each new cursor.  and... if you flip it for a lefty... again, you need to change the hot spot before saving.  Its ok if you forget just change the hot spot and resave it as the same name you just did.
 
Lets say you saved it and changed to it and the hotspot is in the wrong place or you even forgot to give it a hotspot.  You can still edit it.  Click open you program and click File and choose Open.  Now its ready to edit and you can simply save it as the same name replacing the existing one.
 
Funny, but I like this silly woman cursor.