From the artificial intelligence machine (no idea if it works):
The "Favorites" folder you see in Malo Beats' videos is actually a custom category created within the MPC Software on a computer. Once you set it up there, the organization carries over to your standalone hardware (MPC One, Live, X, etc.).
How to Create the Favorites FX Tab
You cannot currently create this folder directly on the standalone touch screen; you must use the MPC Software (Desktop) to "tag" your plugins.
Open MPC Software on your computer.
Go to Preferences (Ctrl+, on PC / Cmd+, on Mac).
Select the Plugins tab.
You will see a list of all your scanned VST/AU and internal plugins.
Look for the "Fav" column (it’s a checkbox column on the right side of the list).
Check the box for every effect you want in your Favorites list.
Restart the MPC Software (and if you are using a standalone unit, make sure it is synced/connected).