ring tones
 

can i format songs in my media player on the Mogul into ringtones for the phone?

Format songs to what? You should be able to use short .MP3 clips as ringtones.

If you save your music you want as a ringtone on your SD card all you have to do is go to phone ringer and drop down to the song

Just copy any MP3 on your storage card to your "My Ringers" folder and it should pop up in the phone ringer menu.