BuddyPress.org

@gaganawhad, the “Skeleton component” is for BP plugins!

What you want is the BP Skeleton Member Theme, which can be found in:

/wp-content/plugins/buddypress/bp-themes/bpskeletonmember/

Move that folder to:

/wp-content/bp-themes/

Activate it in the WPMU admin area – “BuddyPress > General Settings” and you should be ready to start theming!