According to Search Engine Land, a few days ago, Google had changed its Browser Favorite Icon. If your are using Firefox, then you would see a new Browser Favorite Icon, but in the case of Internet Explorer 7, even after clearing the cache and refreshing the page, the Browser Favorite Icon remains the same old one.
However, Google has released a statement regarding the change in its icon. According to Google, “We recognized there was a need for a Google icon that would better work across multiple applications including web, mobile and client applications. We felt the small 'g' had many of the characteristics that best represent our brand: it's simple, playful, and unique. We will be looking to improve and enhance this icon as we move forward.â€
Browser Favorite Icon 'Old Version' (As seen in Firefox)

Browser Favorite Icon 'New Version' (As seen in Firefox)

To me, the new icon looks more elegant and has classy feel to it. Let us see what Google comes up with next.
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{ 1 comment… read it below or add one }
Old one is better