We already know that words are the best way to describe how you feel. But sometimes words alone are not enough and we need a picture to show our feelings. Well, that's where emoticons come in. Microsoft has provided a cheat sheet of all the built-in emoticons in Windows Phone 7.5
"By the way, it turns out the world of emoticons is more complex than you might have guessed. Because there isn’t a single global standard, these character combos might call up different images (or none at all) if you send them to people not using Windows Phone 7.5 or Windows Live Messenger," Microsoft states in an official blog post.
You can take a look at the first part of this story which revealed the first set of emoticons. Take a look below for the second set.