The Add a Favorite dialog window should now be displayed, overlaying your browser window. In the field labeled Name you will see the default name for the current favorite. In the example below, this is "Welcome to About.com". This field is editable and can be changed to anything that you desire.
Below the Name field is a drop-down menu labeled Create in:. The default location selected here is Favorites. If this location is kept, this favorite will be saved at the root level of the Favorites folder. If you wish to save this favorite in another location, click the arrow within the drop-down menu.