ATL / WTL / STL

HBITMAP BitmapFromIconCursor(HICON hIconCursor, HWND hWnd)
{
    ICONINFO iconInfo;
    ::GetIconInfo(hIconCursor, &iconInfo);

    BITMAP bm;
    ::GetObject(iconInfo.hbmMask, sizeof(bm), &bm);

// for a monochrome icon/cursor: top half of mask is AND segment,
// bottom half is XOR segment, so use width as cy value
    int cy = bm.bmHeight;
    if (cy == 2 * bm.bmWidth) cy = bm.bmWidth;

    CClientDC hdc(hWnd);
    CDC hdcMem = ::CreateCompatibleDC(hdc);

// combine the icon's mask and color bitmaps into one
    HBITMAP oldBmp = hdcMem.SelectBitmap(iconInfo.hbmColor);
    hdc.MaskBlt(0, 0, bm.bmWidth, cy, hdcMem, 0, 0, iconInfo.hbmMask, 0, cy, MAKEROP4(SRCINVERT, SRCAND));

// make a copy of the combined bitmap
    HBITMAP hBmpCopy;
    if (iconInfo.hbmColor != NULL)
        hBmpCopy = ::CreateCompatibleBitmap(hdc, bm.bmWidth, cy);
    else // monochrome bitmap
        hBmpCopy = ::CreateBitmap(bm.bmWidth, cy, bm.bmPlanes, bm.bmBitsPixel, NULL);

    hdcMem.SelectBitmap(hBmpCopy);
    hdcMem.BitBlt(0, 0, bm.bmWidth, cy, hdc, 0, 0, SRCCOPY);

// clean up
    hdcMem.SelectBitmap(oldBmp);
    ::DeleteObject(iconInfo.hbmMask);
    ::DeleteObject(iconInfo.hbmColor);

    return hBmpCopy;
}