This activity is a non-threatening way for students to introduce themselves to the class and for teachers to get to know their students. As well, if you do the extension, the students end up helping to decorate the classroom (and will see a piece of themselves in the room every day). It's win win!!!
I have also used this activity to start a poetry unit.
The attached zip file includes a full page handout, a smaller version that can be cut in half (to conserve paper) and a Smart Board file that could be projected (if SmartNotebook is available to teacher).