To replace your tip on your cue:

For tips and tools please see: Accessories

CAUTION: You can get cut if you are not careful!

Remove the old tip by cutting it off with the knife (or razor blade) as close to the ferrule as possible, without cutting into the ferrule or wood of the cue.
(BE VERY CAREFUL The cost of replacing the ferrule can get expensive).

Scrape the surface clean where the old tip was glued.

Take a small piece of 180 grit (or finer) sandpaper and remove the excess glue and tip (if any remains) until the the tip area is flat and smooth.

Take a small piece of 400 grit sandpaper, lie it flat on a smooth, flat surface facing up, and sand the bottom of the tip in a circular motion until the surface of the tip is also flush and smooth.

Take the new tip and press it against that surface. While holding tip in place, turn the cue and tip around with a light in the background to see if there are any gaps between the tip and cue.

If there are any gaps, repeat the above steps.

If you are satisfied with the surface being completely flush place a small drop of glue on the surface of the cue that you have just sanded.
Place the tip carefully, as centered as possible, on the flat surface of the cue where the drop of glue is.

Press down hard on the tip, do not moving the tip off center. Small amounts of glue might squeeze out the sides. This is normal. If there is glue running all over the place you have put too much on. Remove it as quickly as possible with a lint free cloth.

Take a rubber band, loop it around the cue shaft about 4-5 inches below the tip a few times and pull one end over the top of the tip. Roll the rest of the band down the shaft until it holds the tip FIRMLY in place.

Let the glue dry for about 60 minutes.

Remove the rubber band, turn the cue upside down with the tip on a block of SCRAP wood, and trim the overlapping edge of the tip very carefully with the knife (or razor blade) in downward strokes. Do NOT angle the knife since you may cut off too much of the tip and will have to start over.

Use the 220 grit (or finer) sandpaper to sand the tip even and flush with the ferrule in downward strokes only. Ensure that you do not touch the ferrule or shaft with the sandpaper.

Wrap a piece of 800 grit paper around the tip area, hold in place with thumb and forefinger, and turn the cue around continuously to sand the tip even more flush with the ferrule. Do the same with 1200 grit until very smooth.

Starting with the 220 grit and finishing with 400 grit, sand the top of the tip in downwards and sideways strokes away from the center of the tip while turning the cue in your hand until the tip is dome-shaped.

Tips:

Be careful not to cut tip deeper than flush with the ferrule when trimming the overlapping edge. If you do, you might need to remove the tip and start all over with a new tip.

Never sand upwards against the tip with a rough grit sandpaper. This could cause the tip to become spongy and useless.

Don't expect your tip replacement to be perfect the first time. Practice on old cues or house cues first. For a perfect job, take your cue to a professional cue repair shop.