Q:

What is the most accessible way to render an example hyperlink?

The anchor tags in question are examples dynamically rendered when helping the user input custom language. They do not function as typical hyperlinks and should not.
To explain in depth, consider the following scenario.
A site has some user input for changing the language of the way a hyperlink to resource(s) are presented: Thanks for joining! Checkout these guides to get started {{resources}}!
The {{resources}} is then replaced with a hyperlink containing the selected resource name(s). An example is then rendered to show the user what it would look like. Something like the following:
<input id="welcome-language" />
<div class="language-preview">
  Thanks for joining! Checkout these guides to get started
  <a href="#faux-link" aria-label="example resource link">Membership Agreement</a>
  ,
  <a href="#faux-link" aria-label="example resource link">Quickstart Guide</a>
  , and
  <a href="#faux-link" aria-label="example resource link">Becoming a Rockstar (for power-users)</a>
  !
</div>

Notice the links don't actually go anywhere and aren't intended to.
How can I make this accessible? Is simply adding the aria-label enough? Are there other attributes I could/should add?

A:

To a screen reader user, the links will still be read as "link" and the user will expect to be navigated to some page if it's selected.  You'd need additional information to let them know the links are just a "preview" of what the page will look like.
I would leave off the href attribute so that the links become "placeholder links" and then add tabindex="0" so that they are keyboard focusable (placeholder links are not interactive by default so they don't receive keyboard focus by default).
And then I'd add a description via aria-describedby to allow the visual label of the link to be read in addition to a note that the link is not real.  Your original example used aria-label which will override the visible text in the link ("Membership Agreement").  The screen reader user will only hear your aria-label, "example resource link, link".  
(Side note, there's no need to say the word "link" in your label because the screen reader will announce that it's a link because it's an <a> element.  Doing so will cause "link" to be announced twice - once from your label and once because the element is an <a>).
The element you point to with aria-describedby can be hidden (display:none) so that it's not visible on the screen.  The "Accessible Name and Description Computation 1.1" describes how the name/description is calculated.  The first step, 2A, says the element can be hidden.
So your final code might look something like this:
<span id="dummy" style="display:none">example resource, link is not active</span>

<input id="welcome-language" />
<div class="language-preview">
  Thanks for joining! Checkout these guides to get started
  <a tabindex="0" aria-describedby="dummy">Membership Agreement</a>
  ,
  <a tabindex="0" aria-describedby="dummy">Quickstart Guide</a>
  , and
  <a tabindex="0" aria-describedby="dummy">Becoming a Rockstar (for power-users)</a>
  !
</div>

The screen reader will announce the link as "Membership Agreement, link, example resource, link is not active".
Note, some screen readers do not read the aria-describedby attribute by default.  They might just say there's an extra description for the element and to press a shortcut key to hear the description.  That's ok.  It's up to the screen reader to decide how to present the aria-describedby attribute.

