Mac OS X Lion will debut in July and this handy set of instructions from Egg Freckles will let you create a boot disc for installation. OS X Lion will be distributed via the Mac App Store and you can download the installer files to your hard drive. Once you have the installer files, follow these steps to create your very own boot disc:
Use Finder to locate the Mac OS X Lion installer, right-click and select "Show Package Contents"
Find the SharedSupport folder and look for a file names "InstallESD.dmg". This is the Lion Boot Disc image.
Copy the "InstallESD.dmg" file to another folder such as your desktop.
Launch