I've run into a couple gotchas with the accepted answer. Here is my solution.
import copy
def clone(instance):
cloned = copy.copy(instance) # don't alter original instance
cloned.pk = None
try:
delattr(cloned, '_prefetched_objects_cache')
except AttributeError:
pass
return cloned
Note: this uses solutions that aren't officially sanctioned in the Django docs, and they may cease to work in future versions. I tested this in 1.9.13.
The first improvement is that it allows you to continue using the original instance, by using copy.copy. Even if you don't intend to reuse the instance, it can be safer to do this step if the instance you're cloning was passed as an argument to a function. If not, the caller will unexpectedly have a different instance when the function returns.
copy.copy seems to produce a shallow copy of a Django model instance in the desired way. This is one of the things I did not find documented, but it works by pickling and unpickling, so it's probably well-supported.
Secondly, the approved answer will leave any prefetched results attached to the new instance. Those results shouldn't be associated with the new instance, unless you explicitly copy the to-many relationships. If you traverse the the prefetched relationships, you will get results that don't match the database. Breaking working code when you add a prefetch can be a nasty surprise.
Deleting _prefetched_objects_cache is a quick-and-dirty way to strip away all prefetches. Subsequent to-many accesses work as if there never was a prefetch. Using an undocumented property that begins with an underscore is probably asking for compatibility trouble, but it works for now.