See Renunciation of U.S. Nationality Abroad. It gives the steps for renouncing citizenship. However, I strongly recommend reading Section D before choosing statelessness. Most stateless people would be absolutely delighted to get a US passport.
Persons intending to renounce U.S. citizenship should be aware that,
unless they already possess a foreign nationality, they may be
rendered stateless and, thus, lack the protection of any government.
They may also have difficulty traveling as they may not be entitled to
a passport from any country.
Former U.S. citizens would be required to obtain a visa to travel to
the United States or show that they are eligible for admission
pursuant to the terms of the Visa Waiver Program.
One of the things you would give up is the right to enter the US at all. Permission to live and work in the US, without being a US citizen, is much harder to obtain than a visitor visa.
Whether you would be able to live and work in some other country will depend on that country's laws. Most countries will not even let you enter the country without a passport or equivalent proof of citizenship. If you have a specific country in mind I suggest posting a new question about that country's rules.
In general, it will be easier to be admitted to a country, and to live there, with a US passport than as a stateless person. You should at least consider first establishing residence and naturalizing as a citizen of a country where you wish to live.