When I installed latest version of My Eclipse ie My Eclipse 9 initially it worked fine for few days latter suddenly it started giving me error Failed to create Java Virtual Machine.
Here is the solution
It gives Failed to create Java Virtual Machine error because while starting eclipse it created JVM of its own. It require enough free cache memory to do so hence if there is not enough memory it give the Failed to create Java Virtual Machine error.
Go to installation directory
Eg : C:\Program Files\MyEclipse\MyEclipse 9
You will find a file myeclipse.ini
Eg : C:\Program Files\MyEclipse\MyEclipse 9\myeclipse.ini
You need to provide the existing JVM which is already present and need to require recreating. Remove the VM from file myeclipse.ini and add your custom existing JVM
-vm
C:/Program Files/Java/jdk1.6.0_21/jre/bin/javaw.exe
And now when you restart eclipse it will work and wont give Failed to create Java Virtual Machine error.