To create a favorites folder that is shared between network computers you can place the Favorites folder on any shared PC. Just run Windows Explorer and copy the current Favorites folder to a drive on the server. On the other two computers, run Windows Explorer and copy the contents of their Favorites into the new Favorites folder.
Since this requires a registry edit, we must warn you, as usual, to be careful. With this in mind, click Start, Run, type "regedit", and press Enter. When RegEdit opens, navigate to HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\Use r Shell Folders. In the right pane, double-click Favorites and type in the path to your new folder. As an example, you might type in \\Myserver\D\favorites. Close RegEdit and then repeat this process on the remaining computers.
The next time you run Internet Explorer, it should load the new Favorites. To check your work, choose Favorites and make sure that all links are present on all computers. This procedure will work with Windows NT 4.0 as well as Windows 2000.
Note that you may notice a slight decrease in display speed using a shared Favorites folder, compared to having the Favorites folder on the local computer.
Source: Jim Pile from Windows SysAdmin Tips
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