Although most interpersonal interactions take place between people who know each other, most self-presentation research has focused on self-presentation to strangers. Five studies showed that self-presentational favorability differed as a function of whether the interaction partner was a friend or a stranger. Studies 1 and 2 found that self-presentations to friends were consistently more modest than self-presentations to strangers. In Studies 3 and 4, self-presentations were manipulated by instructing participants to present themselves in either a self-enhancing or modest manner. Modesty with strangers and self-enhancement with friends both resulted in impaired recall for the interaction, consistent with the view that those strategies contradict familiar, overlearned patterns. Study 5 distinguished self-deprecation from modesty. Taken together, the results indicate that people habitually use different self-presentation strategies with different audiences, relying on favorable self-enhancement with strangers but shifting toward modesty when among friends.