By default, the Favorites section in the navigation pane in Windows Explorer contains Desktop, Downloads and Recent Places. Here is how to place a custom folder, drive or Library to the Favorites (previously, Favorite Links) in Windows 7.
Browse to the folder, drive or Library that you want to add to Favorites. Right-click Favorites and click Add Location in Browser to Favorites.
Alternately you can drag the object to the Favorites area in order to create a shortcut there.
To delete a favorite, right-click the favorite, click Delete, and then click Yes. This only deletes the shortcut, not the files or folders that the shortcut points to.
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Ramesh Srinivasan founded Winhelponline.com back in 2005. He is passionate about Microsoft technologies and has a vast experience in the ITeS industry — delivering support for Microsoft's consumer products. He has been a Microsoft MVP [2003 to 2012] who contributes to various Windows support forums.