You can create folders to group your Dashboards by team, client, application, etc.
Creating a Folder:
- Click New Folder in the Dashboards list.
- Input a folder name and press enter to create the folder.
- Add dashboards to the folder by clicking on each desired dashboard name in the list and dragging it into the folder
To remove a dashboard from a folder, simply click and drag it out of the folder.
To delete or rename a folder, find the folder in the dashboard list and click on the menu. deleting a folder that contains dashboards will not delete the dashboards; it just removes the folder association.
Favorites
You can "favorite" any Dashboard by clicking the 
button in the Dashboard header under the three dot menu. Any Dashboards that you have favorited will be listed in a folder labelled Favorites at the top of the Dashboards list.