Here is a video I made showing how to create your own drum sounds in Ableton Live. I use a bunch of great mappings and clip properties to make finding hits a fun process; then I use the hits to create a playable drum rack. The drum rack creation and editing process is taken much further in the course Advanced Music Production in Ableton Live.

Oh, there are two mappings I made then never used in the video(oops), the set buttons for start and end.  If you hit those buttons Live will set the point(start or end) right where the current playback location is.  I usually use that to get the point in roughly then fine tune it with the encoders.

If you are interested in the Live set, Download the Drum Rack Creation Live Pack.

Have Fun. Make Music
-L-Don

Thanks to my students Esther Roozendaal for providing the slicing preset to create the file I used and  Jason Clark for asking the question that inspired the video.