// echo trimmed bio field at profile header 
 
add_action( 'bp_profile_header_meta', 'display_user_color_pref' );
function display_user_color_pref() {
     $args = array(
        'field'   => 'My Bio', // Field name or ID.
        );
    $my_bio_excerpt = wp_trim_words( bp_get_profile_field_data( $args ), 20 );
    if ($my_bio_excerpt) {
		echo '<div class="my_bio">';
        echo 'My Bio: ' . $my_bio_excerpt;
		 echo '</div>';
    }
}