CursorFX

CursorFX enables you to apply special effects to your Windows 2000/XP mouse cursor. It includes several themes that are semi-transparent and feature more advanced shadows and alpha blending. CursorFX is configured directly from your Control Panel/Mouse Properties dialog. Additional themes can be downloaded.

Link to Download:

http://www.ziddu.com/download/5307176/CursorFX_public.exe.html