In order for this to work you need to add the following blank custom emoticon (right-click and "Save Picture As..."):
to your MSN Messenger (version 6 and up) and use (bl) as its keyboard shortcut.

Enter text message here (don't make it too long):
Select the emoticon to use:





















Order:
Left-to-right Right-to-left
Automatically copy the result to the clipboard



Add this bookmarklet to your bookmarks (by dragging it to your browser's "Links" toolbar) in order to easily create an emotext.

Create Emotext

The result will automatically be copied into your clipboard so just click the bookmarklet, type the text, and paste the result in your Messenger window.