Error with not existing instance profile while trying to get a django project running on AWS Beanstalk

That role is created the first time you use the elastic beanstalk console. The CLI also attempts to create it, but your IAM user doesn't have permissions to create it. You can fix this error by logging in to the console and getting to the platform selection page. You will notice that it will ask you to create a role.

Otherwise, you can give your IAM user create role permissions and the CLI will create the role for you.