Its quite clear from the name about what the app does. The app allows you to randomize your ringtones on your iPhone. However you can only select those ringtones which you have added via itunes to your iPhone as it only works with them.You also have a bossprefs toggle via cydia if you want to use that utility.
NOTE: For some minutes the package had an issue and was installing a ringtone called RandomRing into /Library/Ringtones but the application manage only ringtones installed and synced by iTunes in the ringtone section… so when you install the ringtone downloaded from link posted before you will see 2 RandomRing : one will work as random and one not 
You can delete manually the file /Library/Ringtones/Randomring.m4r (iPhone Browser can be used for this).
Search for ’RandomRing’ on cydia
Cydia brings cool apps on Jailbroken iPhone 2.x… Info here
iPhone / iPod touch downloads
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randomring doenst seem to work with the 3.0 firmware…any ideas on how to fix this? or when the developers will solve the problem?
I think the developer might give an upgrade..coz there are many apps that do not work with 3.0
Update would be great. I hope the dev’s still active.
The problem with Cydia developers is that they are not required to pay $99 as registration fees as done by Appstore developers. We cannot be sure if they would be serious about updating apps and delivering more products.
However, someone or the other will sure crack this issue soon!
The first link to download randomring.m4r didnt import into my itunes, but the second one did. Also, For some reason, bossprefs toggle for randomring does not work with my 3.0 3GS firmware, but when I uninstalled it, and selected randomring as my default ringtone in my normal prefs, randomring works like a charm. Thanks ! =D
Anyone got this to work with 3.0 firmware yet? I have a 3G.