Android 4.2 is here, and with it comes proper support for multiple users on tablets. According to Cam, it's easy to setup and intuitive to use, too. Unfortunately, it doesn't work on phones at this point (presumably because of a Nokia patent).
At this point, we do have to address the pink elephant in the room here: it's likely you don't have 4.2 yet. And if the Android Platform Distribution numbers are any indication, most devices probably won't get 4.2 until mid-2014.