I just installed the Android Eclipse Plugin and the Android SDK from Google yesterday. I open the AVD Manager window by going to Window -> Android Virtual Device Ma
If you have changed the SDK Path somehow it will not be able to find the SDKs you installed even though it is listing them fine.
I solved by openig Android SDK Manager and in that dialog choosing the menu Tools -> Manage AVDs. And when you open Manage AVDs directly from the toolbar of Eclipse you should Refresh to see the AVD you created.