I like hugs, and I hug friends and family somewhat freely. I'm wary of hugging acquaintances though, because I know some people feel weird about and have person bubbles, etc. Last thing I'd want to do is make people uncomforable.
I don't recall ever hugging a stranger though, and I don't think I would. Maybe if they're feeling down or something but I doubt it.
In summary: Hug friends and family, freely receive hugs from anyone.
I don't mind if I'm initiating the hug, but I don't like it when people go in for one on their own accord. I mean, can't we discuss this first?
Ha ha! That makes it sound so diplomatic.
Person 1: Excuse me, sir, might I negotiate a hug in your schedule?
Person 2: Well, my shedule is a bit crowded but I suppose I can work you in.
Person 1: Jolly good!