The document outlines steps for creating an API proxy in MuleSoft's Anypoint Platform including designing a RAML application, deploying it to CloudHub, creating a proxy and linking it to the RAML application, testing the proxy by executing its URL, configuring policies like request limits, and viewing analytics on API usage. It notes Anypoint Platform allows defining service level agreements (SLAs) with tiers limiting requests per minute before rejecting additional calls.