Some basic examples:
:-) or (-: or :) is a smile (a smiley) :-( or )-: or :( is a frown :-P has a lolling tongue (or a tongue sticking out) ;-) or (-; or ;) is winking B-) or 8-) has (sun)glasses :-o expresses surprise :-7 tongue in cheek (rare)
There are a lot of possibilities, because people are very good at creating and interpreting pictures as faces. See ASCII art.
As more of a joke than anything--but also as a political statement--"frownies" (the symbol :-( ) were trademarked by [Despair, Inc.] in [U.S. Patent Registration Number: 2347676]. The patent has never been enforced.
Some examples of emoticons:
=8-0 fright
=8-@=(&) man who has just discovered he has a tapeworm (the latter is credited to humorist Dave Barry)
d:^) baseball player
+-<:-) The pope *<|:o)> Santa Claus 7:^] Ronald Reagan
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