If you have a new enough device to be running Android 5.0 Lollipop, it’s been made easy with the inclusion of a guest feature. It works pretty much like guest mode has worked on other devices for years, and it should have been included much sooner in my humble opinion.
To enable guest mode in Lollipop, drag down the menu from the top of the screen, then tap on your icon. That opens up some options, including the one you are looking for, i.e. “Add Guest.” Click on that, and the device will switch over to guest mode. This basically puts the device into the same configuration that it had when you got it new, and it won’t have all of your apps available, but the guest can use the browser, included apps, etc.