I can do
Symbol["foobar"]
to create a symbol foobar. How to create a symbol $\theta_1$?
Symbol[Subscript[\[Theta], 1]]
doesn't work.
Although your question is stated clear, I'm still wondering whether you understood, that Subscript[\[Theta], 1] is not a symbol. It's a box-structure! Therefore, what you do when you assign it a value like
is, that you don't assign a value to some indexed variable x. No, you assign a value (a DownValue) to Subscript

Let's assume I can guess that you like to use some indexed variable in your code then you should consider to work with the Notation package as already pointed out in the comments.
You can, after loading the Notation package, define a symbol like pattern which you want to use for a indexed variable. So for instance
Note, that the parameter is x subscript Blank[]!
Needs["Notation`"]
Symbolize[ParsedBoxWrapper[SubscriptBox["x", "_"]]]
If you now look at InputForm[Subscript[x, 1]] you see, that the notation package transforms this into valid symbol-name only consisting of letters
At this point you could use ToExpression to define a vector
Table[ToExpression["Subscript[x, " <> ToString[i] <> "]"], {i, 10}]
and the moment you evaluate this you have your new variables
Names["x\[UnderBracket]Subscript\[UnderBracket]*"]
(*
{"x\[UnderBracket]Subscript\[UnderBracket]1",
"x\[UnderBracket]Subscript\[UnderBracket]10",
"x\[UnderBracket]Subscript\[UnderBracket]2",
"x\[UnderBracket]Subscript\[UnderBracket]3",
"x\[UnderBracket]Subscript\[UnderBracket]4",
"x\[UnderBracket]Subscript\[UnderBracket]5",
"x\[UnderBracket]Subscript\[UnderBracket]6",
"x\[UnderBracket]Subscript\[UnderBracket]7",
"x\[UnderBracket]Subscript\[UnderBracket]8",
"x\[UnderBracket]Subscript\[UnderBracket]9"}
*)
InputForm[Subscript[x, 1]] doesn't give expected result. see http://pasteboard.co/a4QgrQ9ja.png
– matheorem
Dec 15 '16 at 11:32
Subscript is automatically transformed to its box-form. You need to input the subscript with Ctrl+_. Otherwise, it doesn't work. But it must have worked at some point, because I wouldn't have put it in a post without testing. This is really odd.
– halirutan
Dec 15 '16 at 11:50
Subscript? I don't seem to run into unexpected behavior with it. Can you please give an example where assigning to Subscript gives wrong results? Maybe it is a performance disaster?
– Adobe
Dec 22 '16 at 14:01
With and Block. So basically, you cannot use those variables in some local context.
– halirutan
Dec 22 '16 at 15:37
Notation it works. However, it breaks TraditionalForm.
– Adobe
Dec 22 '16 at 22:09
Subscript[\[Theta], 1] = 20works. – dearN Oct 27 '12 at 17:27Subscript[\[Theta], 1]. Beyond that I am unsure what you want to do with the symbol. – dearN Oct 27 '12 at 17:40Notationpackage? – Sjoerd C. de Vries Oct 27 '12 at 18:23