The term "roll up a character" is just part of the vernacular for a gamer. There's a good chance you've done it at some point in your time being a gamer. And even if you generally use a point-buy system for character attributes (like I generally do), you still use it to refer to "make a new character." Personally, I love making up characters, even if I don't actually plan on using them. There's a lot of fun that can be had simply in taking an RPG system and seeing what sort of characters you can create. Well, Thunderworks Games has turned that fun into the point of the game. That game is Roll Player, and they're up on Kickstarter now.
The goal of the game is to create the greatest fantasy adventurer that has ever lived. Through a rolling and drafting mechanic, players will create their characters attribute scores. You will also be able to purchase armor and weapons for your hero (can't run into battle naked and unarmed, after all... Well, I guess you could, but I wouldn't recommend it). Skills are also important, and the dice will help you build up those as well. All of this character-building increases your character's reputation. The one with the highest reputation at the end of the game wins.
The campaign is about 1/3 funded with still 29 days left to go.