Prior to this update, you could only add people and reports to your Favorites list. Starting with this update you can add any item (work items, tasks, customers, etc.) to your Favorites list.
The Favorites list is your collection of links to items (people, work items, tasks, customers, etc.) in Clarizen. You add items to the Favorites list for easy access in future. Links are grouped by an item type or module. By default, the list is empty and does not appear in the navigation menu. Once you add at least one item to the list, the Favorites menu option appears at the top of the left-hand-side navigation menu.