I'm not sure if i understand correctly, but if you mean "Favorites" folder, which typically is inside C:\Users\<username>\ (user's HOME directory) then you can simply change location in properties. In fact, you can change location of any folder in there, like Documents, Desktop and so on.
Basically, right-click the folder you want to move, go to properties, then to location tab, and change the path to anything you want. You can then do the same for your second Favourite folder.