RVM (Ruby Version Manager) handles the installation and management of multiple Ruby environments, and Octopress was designed to work in an RVM-controlled environment. Installation should be pretty smooth, but if you have trouble get help here.

Run this command to install RVM for your user account.

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bash < <(curl -s https://rvm.beginrescueend.com/install/rvm)

Next add RVM to your shell as a function.

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echo '[[ -s "$HOME/.rvm/scripts/rvm" ]] && . "$HOME/.rvm/scripts/rvm" # Load RVM function' >> ~/.bash_profile
source ~/.bash_profile

# If using Zsh do this instead
echo '[[ -s $HOME/.rvm/scripts/rvm ]] && source $HOME/.rvm/scripts/rvm' >> ~/.zshrc
source ~/.zshrc

Install Ruby 1.9.2 and ensure RVM has the latest RubyGems.

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rvm install 1.9.2 && rvm use 1.9.2
rvm rubygems latest