My circu-lore (please forgive the pun)

1. North. Element: Air. Item: Incense stick in a censer.
2. South. Element: Water. Item: A bowl of water with a teaspoonful of salt added & mixed.
3. East. Element: Fire. Item: A candle.
4. West. Element: Earth. Item: Geode, rock, ect. whatever your heart desires for earth.

How I'd set up the circle:

1. Go into your sacred space.
2. Set up the items in the order listed above.
3. Light the candle and incense. (I recommend having the candle in a holder so the wax doesn't go everywhere.)
4. Welcome the Guardians of each direction in your own words. (eg. "Guardians of the South, I sincerely welcome you to my/this circle" etc.)
5. Start the ritual/spell you desire to do with all the ingredients of the spell/ritual.
6. As you finish the spell/ritual, thank the Guardians of each direction in your own words. (for example "Guardians of the East, thank you for attending my/this circle with my full gratitude." etc.)

Note this is an optional way to set your circle up. Also note that you can add this to your BoS if you desire.