Because the system works on concurrent users, you can create as many user profiles as you need regardless of how many licences you have.
To create a telemarketer/caller profile you must have a permission level of at least 75.
Go to the menu and Setup > Users > User Profiles.
To create a new User Profile, click the +New User button.
For a full description of the User Profile page click here.
The main points for a Telemarketer/caller are:
Defaults & filters
Use the Allowable box to the right of the Default drop downs to limit the Accounts displayed to the User.
Additionally, the Allow change checkboxes will probably be set which would allow the User to change between the Owners, Customer Statuses and Projects you set in their Allowable List.
Permissions
Authority level: Regular User
User type: Telemarketer
Login type: Regular
If you already have a Telemarketer User configured how you want this User to be set up, you can duplicate that User. To do this you will need to go to the Menu, Setup > Users > User Profiles, click on the User you already have set up and select the duplicate option at the bottom of the page.