Shell Object Editor is a small utility aimed at tweakers (link courtesy a recent Lockergnome digest).
It creates both folder and program shell objects for My Computer, Desktop, Control Panel, and Network Neighborhood. These shell objects can be created for the current user, or all users. You decide whether they can be deleted, copied, linked, moved, etc. The editor is unable to modify the shell objects, but you can work around that with a delete and (re)create. And typically for a tool like this, the help file is yet to be written. There is also an expert mode that lets you delete system shell objects. 
The theory and manual techniques are discussed at more depth in Shellfolders & -objects. Useful if you have an earlier version of Windows since this utility is for Windows 2000/XP only. And do note the cautions and disclaimers, especially if you’re unfamiliar with the registry.
The folder shell object is similar to Indirect folder links. The main difference seems to be that the shell objects can exist only in the above locations, whereas the indirect links can be copied or moved almost anywhere, once created.
I’ve used the editor to create a some folder shell objects on the desktop, to places like my downloads and other frequently used non-standard folders. And it has allowed me to add extra utilities to Control Panel, as program shell objects, even though they are just conventional exe files.
