The process of cloning a virtual machine begins with having a snapshot of the source machine's root volume. Click on the "Snapshots" tab on your source machine's details view to list all snapshots associated with that machine.
Note: Clones can only be made from snapshots of root disks. If you do not have one, you will need to create one.
Click on the snapshot from which you wish to make the clone. This will open the snapshot's details view. From there, click on the "Create Template" button, either at the top or on the far right. That will bring up a new popup requiring you to enter a unique name for your template. Enter a name then click on the "Create Template" button in the popup.
Once you have initiated the template creation, another popup will appear. This popup will allow you to access your new template as soon as it is created. Click on the "View Your Templates" button in the popup to access the template you just created.
You will now be switched into the "Private Templates" view. From here, you can deploy a new virtual machine from your new template. The creation process can take a few minutes. You may have to refresh this view a few times before your new template is displayed.
Note: You can copy your template to another zone by clicking on the icon on the far right. You can then deploy a new VM, using that template, from that zone.
For more information about the virtual machine creation process, go HERE