Fontforge is a cool Utility for making all sorts of fonts.
<img src="http://a.fsdn.com/con/app/proj/fontforge/screenshots/328607.jpg" border="0">
Last time I checked they only had Debian .DEB file. They now support Windows and .RPM.
I suggest loading a TTF font file first, then you can see how the draw tools work. Most of the tools are based on beziers curves like inkscape objects.
Double click on any glyph to edit them.
The advantage to making your own fonts is that you do not need to get permission to use them in commercial projects. (They look great too!)
I was very happy to see this on windows. In the past I had to run VirtualBox