Create element from template element?

I'm having some trouble with this:

template = $("#template");
$(template).attr("id", "newid");

$(template).appendTo("body");

What I want to do is assign an id to the template, then amend the content. Trouble is, I am currently referring to the actual template element, and so the id is changing that. On using this template again, I cannot select as the id is different.

Any advice on optimal approach?