What is it like to be a Mormon?

First, I must say that "Mormon" is just a nickname because of the Book of Mormon which we believe in. Mormon was a prophet of God but in no way do we adore our prophets. We love them and follow their advise but ultimately, is God who we must "fear" and adore. You can call us LDS or Latter-Day Saints, after the name of the church: The Church of Jesus-Christ of Latter-day Saints.
So what is "mormon" you are wondering? First of all, I want to kill a myth and I want to tell you WE PRACTICE MONOGAMY! I don't know why it's so hard for people to understand. Whoever tells you that we are polygamists, is making a very uninformed statement. We are not perfect but we try to be the best we can. So please, give us a chance. Don't let ignorant people spread rumors which are not true. Moreover, here is a list of our Articles of Faith which are our basic believes:

The Articles of Faith
of The Church of Jesus Christ of Latter-day Saints

1. We believe in God, the Eternal Father, and in His Son, Jesus Christ, and in the Holy Ghost.
   
2. We believe that men will be punished for their own sins, and not for Adam's transgression.
   
3. We believe that through the Atonement of Christ, all mankind may be saved, by obedience to the laws and ordinances of the Gospel.
   
4. We believe that the first principles and ordinances of the Gospel are: first, Faith in the Lord Jesus Christ; second, Repentance; third, Baptism by immersion for the remission of sins; fourth, Laying on of hands for the gift of the Holy Ghost.
   
5. We believe that a man must be called of God, by prophecy, and by the laying on of hands by those who are in authority, to preach the Gospel and administer in the ordinances thereof.
   
6. We believe in the same organization that existed in the Primitive Church, namely, apostles, prophets, pastors, teachers, evangelists, and so forth.
   
7. We believe in the gift of tongues, prophecy, revelation, visions, healing, interpretation of tongues, and so forth.
   
8. We believe the Bible to be the word of God as far as it is translated correctly; we also believe the Book of Mormon to be the word of God.
   
9. We believe all that God has revealed, all that He does now reveal, and we believe that He will yet reveal many great and important things pertaining to the Kingdom of God.
   
10. We believe in the literal gathering of Israel and in the restoration of the Ten Tribes; that Zion (the New Jerusalem) will be built upon the American continent; that Christ will reign personally upon the earth; and, that the earth will be renewed and receive its paradisiacal glory.
    
11. We claim the privilege of worshiping Almighty God according to the dictates of our own conscience, and allow all men the same privilege, let them worship how, where, or what they may.
    
12. We believe in being subject to kings, presidents, rulers, and magistrates, in obeying, honoring, and sustaining the law.
    
13. We believe in being honest, true, chaste, benevolent, virtuous, and in doing good to all men; indeed, we may say that we follow the admonition of Paul—We believe all things, we hope all things, we have endured many things, and hope to be able to endure all things. If there is anything virtuous, lovely, or of good report or praiseworthy, we seek after these things.

Joseph Smith (source: http://lds.org/library/display/0,4945,106-1-2-1,FF.html)