is there a specific way we should arrange the electrons around the atom??

Not really, but there are a few rules to follow. One is that when filling in the electrons only put one electron per side to start out. Treat it like you are dealing cards in a game of poker. One electron (card) per side (person) at a time. Do this until all electrons have been used up and ensuring that all bonds (single bonds, that is) have two electrons there. So you should start out by filling in the bonding electrons first, then evenly dispersing the other electrons.

They shoud be in pairs on the 4 sides as so

edit...hmmm jdrug's way is better

thanks guys

They shoud be in pairs on the 4 sides as so

 

That is not correct. You do not assign electrons based on pairs. The electrons are "dealt" one at a time to each side (if you are working with an individual atom) until all electrons are used up. For Oxygen, you have two unpaired electrons on opposing sides of the atom, not three sets of paired electrons. (And when elemental oxygen is properly drawn, you'd see that there are unpaired electrons on each atom in the O2 molecule which helps explain some of the reactivity of the molecule).

Your right, i'm rong. Apparently my chemistry teacher is an idiot.

Your right, i'm wrong. Apparently my chemistry teacher is an idiot.

 

Not a problem. It just might be that you haven't gotten deep enough into orbital theory and other grotesque details about the electrons yet.