An email alias is simply a forwarding email address - anything sent to it will be forwarded to your main email address. Aliases are useful for organizing your emails and managing spam. For example, you might want to use your real iCloud email address for emailing friends and family, but use an alias for registering on various websites. Then you know that anything sent to the alias has to do with things you've signed up for around the web, and it can be easily separated from your more important emails.
iCloud allows you to have up to three aliases. Here's how to create one:
1. Sign into your iCloud account, head to your email and click on the "Actions Menu," which is the gear shaped icon in the bottom left.
2. Click on "Preferences" and click on the Accounts tab. On the left hand side you will see "Add an alias." Click on it.
4. Click "OK" to save your new alias.
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That's all there is to it. You can go back and change your full name, label and color, but you can't change the alias address. You can delete it if you want, but the better option is to disable it by checking the "Disable alias box." Anything sent to your alias while it is disabled will be returned to sender. This is useful to avoid unwanted ads, spam etc. You can use your alias to order something from somewhere and just disable the alias after your transaction is complete to avoid getting promotions from them.