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Try to pick a variation of your own name, like your first initial and your last name ("jsmith" for John Smith) or your first and last name joined with an underscore (john_smith). You can also try eliminating the vowels (JHNSMTH) or replacing them with V's (jvhnsmvth).  Use your nickname, or pair your name with a passion or hobby. If you love to bake and plan to post lot's of food pictures, something like "SmithBaker" will work. Choose a name that rhymes or uses alliteration so it sticks in people's minds. Avoid overly cutesy or childish names, like "unicorn_xoxoxo". Try to describe yourself or your account in just a few words. List a few things that are important to you. For example: "Coffee/Photography/My Dog Charlie" or "Explorer, Dreamer, and Writer." Add a link if you have a blog, Twitter, Tumblr, or other website you want people to check out.  Many Instagram hipsters identify their city or country in their bio: "Ceramic artist based in Austin, TX." You may simply wish to state where you're from and nothing more. Try to think of a quote that inspires you or sums up your personality. It can be funny or insightful. Think about a line from a movie, book, or song that you relate to, or post a silly pun. Choose either a portrait-style picture or one that shows you in your element or a beautiful location. If you have a photo of yourself standing in front of a lake in the mountains, that's the one you want to use. Desaturate the picture to give it a vintage feel.  If you're a girl, style yourself wearing a beanie or a floppy hat. Wear your regular glasses or sunglasses (bonus if the frames are round). You want your hair to be loose and wavy if possible, or opt for a popular top-knot and forget the hats. Makes sure your makeup is on point — consider a bold lip color. If you're a guy, you may want to rock the beanie look as well. Glasses and a beard are a must. Wear a flannel or a vintage t-shirt.
Choose a username. Write a bio. Choose your profile picture.