[Snipped directly from VB Zone] Full credit should be given to Charles Gaddy
Raleigh, North Carolina rather than the author of this post. :) But I thought it was done well, and actually usefull.

Managing the Hourglass

It can be very useful to have a central public function for manipulating the mouse pointer in a Visual Basic application. This function can help you organize how the hourglass is shown and at what level (form, screen):

Public Sub Hourglass(ByVal blnHourglassSetTo As Boolean)

Select Case Forms.Count

Case 0 'No Form is loaded so set the screen
    If blnHourglassSetTo = True Then
        Screen.MousePointer = vbHourglass
    Else
        Screen.MousePointer = vbDefault
    End If

Case Else

    If blnHourglassSetTo = True Then
        If VB.Screen.ActiveForm Is Nothing Then
            Screen.MousePointer = vbHourglass
        Else
            VB.Screen.ActiveForm.MousePointer = vbHourglass
        End If

    Else
        If Not VB.Screen.ActiveForm Is Nothing Then
            Screen.MousePointer = vbDefault
            VB.Screen.ActiveForm.MousePointer = vbDefault
        End If

        Screen.MousePointer = vbDefault

    End If

End Select

End Sub