What are friend lists?
Friend lists are groups of friends that users can create to organize their friends. They are private lists that can be used in several ways; to send messages, invite friends to a group or event, and filter status updates by certain groups of friends. Now, users can also share and restrict information and content based on friend lists.
Friend lists help you organize your subscriptions. For example, you can create one for the friends you’re subscribed to, and one for the interesting bloggers you follow, so you can see their updates separately. By default, we’ve created three Friend lists for you (Personal, Professional, and Favorites), but you can change their names, delete these and create new ones.