I ussually have a long list of "classes I still want to play"
and go from their, picking the race, and putting down the stat points in the way that I envision the class/want to play it.
Or what the party needs if other really really want to be something, my long list of things I want to be some time allows for some leway(sp?) in that regard
"...not touching that with a 25 foot collapsable pole..."
Depends on the day, really. Some days I'll roll the dice and see what i can come up with, other days i will think of a character and then try to make that happen when the dice are rolled.
First I decide what race and class I am, then I find a picture that personifies the character; make up a biography, roll the dice and off I go. Having a picture and story helps me visualize the character, so I understand better how to develop it further on.