Just when you think you've seen everything--there's an
online dress-up/paper doll/social community aimed at pre-teen and teenaged girls. Although the majority of members are female, there is a population of males too. I imagine they are quite popular, because they are fairly rare.
Stardoll was actually begun close to two years ago, but recently has been gaining popularity, to the point that they now have over 14,000,000 (yes, that's 14 million) registered users.
As a member, you can choose from a long list of well-known names--performers, actors, actresses, and models--to use as an avatar and modify it with your own preferences from skin color to whether you have freckles or not. It comes with a limited wardrobe. Then you can "shop" in the shops with virtual money--which is bought using real credit cards.
There are virtual brand names that Stardoll has created and real brands such as DKNY and Heidi Klum jewelry.
When you get tired of your purchases, you can earn some Star Dollars by selling them in the Bazaar.
You may form a club and chat with other online users, vote for "Cover Girl" and ... and sign other users' guestbooks. Earning popularity earns you Star Points which can be converted to Star Dollars.
You can get a free membership which allows you to do just the most basic activities. For more options, you have to purchase a paid membership which is $6/month or $60/year.
I joined using the free membership option, chose Christina Aguilera as my avatar, and modeled some of the default clothing I found in my closet. It was fun for a few minutes--but not fun enough to spend real money on!