Standard procedure;

./configure
make
as root;
make install

If you plan on using icpld with IPv6 networks, note that you will have to
run ./configure --enable-ipv6.
configure first looks for the ping6 binary, if it fails to find that (it most likely will if you
are on a solaris system) it will assume ping -A inet6
If, however, this is wrong as well, not only do you have a weird system but you 
would also have to override configure's setting by 
doing ./configure --enable-ipv6 PING6="/foo/bar -6"

Now is a good thing to edit icpld.conf.sample and copy it
to /usr/local/etc/icpld.conf . See 'man icpld' for further 
information on the config file. If you lack permissions to put
files in /usr/local/etc, you may put it anywhere else, and specify
the path with the -config argument.