I use Animget to capture stuff and Gif Movie Gear to create and optimize gifs, Photoshop and Bandicam for gifs from 3d games. Procedure for most games: Record, find a loop, import frames, crop, auto-optimize gif, save. In some cases, manual editing of single frames is required, to remove unwanted graphics. If possible, disabling layers in the emulator also helps to get rid of lifebars etc.
Rusty (PC-98), 1993
Masahiro Kajihara, Kenichi Arakawa, Ryū Takami