The Elder Scrolls IV: Oblivion/Races

Races
Bretons and High Elves are the champions of magic, but you could turn one into a fighter with a little extra effort. Redguards and Orcs are the combat specialists. Khajiits and Wood Elves are natural thieves. Argonians can swim any distance underwater (useful for treasure hunting). Imperials are the most balanced race, as other than a slight combat leaning they're pretty much mediocre at everything.

When picking your appearance you can use the scrollbar (on PC) or the right thumbstick (Xbox) to spin the head. This is especially useful when choosing a hairstyle as some are longer than they look from the front. When it comes to gender, females of some races have slight differences in their skill bonuses, but as a rule you should choose a gender based on personal taste.