If you are looking to design your own icons, I'd recommend you go with SVG icons (Android 3.0+). I hope you are not supporting 2.3.
Anyways, having SVG icons is better than an icon font. Read here
To design SVG icons, use Illustrator. It is used for Vector designs. Photoshop is used for Raster designs (if you scale rasters to bigger size, they will start tearing or pixellating)
I'd recommend you use Illustrator, design each icon in one "artboard", and when done, Save the whole icon-set into different SVG files. Then use this tool to do all the icon generation, which you can then directly include in your html.
On the other hand, if you are OK with pre-existing icon-sets, look at FontAwesome or Glyphicons or IcoMoon