BuddyPress Members can easily update their status and mood from their profile page. User’s can see profile status tab in their profile where they can set status.
To set Status : Enter your status and then click on “Add and Set current” button to add status. Now your status will be listed here. You can add upto ten status and adding more than that will delete the oldest one. You can also edit and delete status from here only.
To set mood: Click on any of these icon to set mood which appears beside username in member header.