My profile is a link in the Navigation block that expands to allow users to access certain elements of their profile on Moodle.
This setting allows users to view their profile via Home>My profile>View profile. This is the full (site) profile. Note that in addition to this, there are course profiles for each course the user is enrolled in, which can be accessed by clicking the course profile links in the full profile. See View profile for more information on course and full profiles.
This expands to show both posts the user has contributed to and discussions they have begun.
This takes the user to their message screen to read and send messages.
This allows the user to upload files to a personal storage area for possible later inclusion in a course.
My profile settings
My profile settings is a link in the Settings block that expands to allow users to change certain elements of their profile on Moodle, for example, set their messaging preferences and change their password. See Edit profile for more information.