On a website I am creating, the user is prompted to login before they can access the main content page. However, if they do not own an account, they can create one. Where should this button be placed? Is the example I've provided suitable?
Adding such a link close to Login button does the job very well. Although I would choose a slightly different wording. Sign In or Log In is pretty standard these days and your Logon caught me off guard too.
Also "Don't have an account yet?" sounds a bit better.
I would go the other way around though. You want your website to be tailored for onboarding new users. User of your website usually knows where to sign in or are already signed in but a new visitor aren't. Saying something like "Sign up here in order to get the complete experience" would convert more visitors into users and grow your website.