Creating a copy of a database in PostgreSQL

Postgres allows the use of any existing database on the server as a template when creating a new database. I'm not sure whether pgAdmin gives you the option on the create database dialog but you should be able to execute the following in a query window if it doesn't:

CREATE DATABASE newdb WITH TEMPLATE originaldb OWNER dbuser;

Still, you may get:

ERROR:  source database "originaldb" is being accessed by other users

To disconnect all other users from the database, you can use this query:

SELECT pg_terminate_backend(pg_stat_activity.pid) FROM pg_stat_activity 
WHERE pg_stat_activity.datname = 'originaldb' AND pid <> pg_backend_pid();

In production environment, where the original database is under traffic, I'm simply using:

pg_dump production-db | psql test-db

To clone an existing database with postgres you can do that

/* KILL ALL EXISTING CONNECTION FROM ORIGINAL DB (sourcedb)*/
SELECT pg_terminate_backend(pg_stat_activity.pid) FROM pg_stat_activity 
WHERE pg_stat_activity.datname = 'SOURCE_DB' AND pid <> pg_backend_pid();

/* CLONE DATABASE TO NEW ONE(TARGET_DB) */
CREATE DATABASE TARGET_DB WITH TEMPLATE SOURCE_DB OWNER USER_DB;

IT will kill all the connection to the source db avoiding the error

ERROR:  source database "SOURCE_DB" is being accessed by other users

A command-line version of Bell's answer:

createdb -O ownername -T originaldb newdb

This should be run under the privileges of the database master, usually postgres.