I would like to build a small device that is the size of a tic-tac
dispenser that can generate polyphonic ringtones to simulate the
ringing of my cell phone ( to escape a meeting etc ). The toughest
part is finding an IC chip that generates polyphonic ringtones AND is
under $5.00 in quantities of 1000. I could use a micro-controller but
this ( i believe ) only generates monophonic tones. If you know any
manufacturers and product part numbers, let me know. I don't need any
help ( answers ) on how to design the device, just a supplier of the
part.

There are polyphonic sound generators made by a couple of
semiconductor companies but they accept a midi data stream which must
itself come from a microcontroller. I have had limited success in
getting information as they only want to deal with mobile phone
companies who will order zillions of them.
Yamaha and roland probably make them but ROHM and OKI certainly do.
ROHM CO., LTD. recently developed the BU8709KN, a PCM sound generator
LSI capable of generating polyphonic hi-fi sounds at CD quality.
Oki Electric Industry Co., Ltd. (TSE: 6703) today announced that it
has co-developed a 32 polyphonic*1 sound generator LSI, ML2871, and 16
polyphonic sound generator LSI, ML2873 with Casio Computer Co.
I suppose it would be cheaper to buy another phone and call yourself
than develop a product like this for such an application.