One way to create links for free is to create links within profiles. For example, you have a Google profile that has 'dofollow' links - which means you can get a link from Google.com/howevertheysetuptheirprofiles. That'll pass some value, right? Sure!
There are also plenty of niche sites where you can set up an account/profile and link out from there as well. Whether you're linking to an interest, your company website, or just blatantly padding your profile with links only for SEO purposes - they'll still count as long as they're dofollow (so sorry all you Twitter & Facebook fans).
For example, I set up a profile on this page that has to do with medical/health issues because my client I link to from that profile page is in the medical field. It's a pretty easy link to get - and as long as the profile page is read/indexed by Google - it'll pass some value. How much value is a matter of debate, but we have seen rankings go up from profile page links alone.
But it is a great, white-hat way to obtain links (so long as you aren't spamming the profile links). It's even more white-hat if you actually participate in the forums or the site you sign up for, but then you're starting to get into the realm of internet marketing instead of just generic SEO.

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