Display folder is a virtual folder which can be used to store fields (columns), calculated columns, and measures together in one place.
Refer: Create a measure table in Power BI
Following these steps to create Display Folder:-
Step-1: Go to Model Tab in Power BI desktop

Model Tab Power BI
Step-2: Select a measure, columns which you want to move under display folder (use “Ctrl+click” for multiple selection), then press enter.

Display folder
Step-3: Now you can see all selected measures & columns under folder.

Folder
How to create a Nested Display Folders( Sub folder)
You can also create a subfolders to put a \ in the display folder name, here is an example:
Step-1: Select measure that you want to move under sub folder.
Step-2: Enter Display folder name(Sales Measures)\Sub folder name: – Sales Measures\Profit
Step-3: Then press enter.

Sub folder in Power BI
Step-4: Now you can see the subfolder under fields section.

Display Subfolder
Refer Power BI other post: Power BI tutorials
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I can not delete it afterwards…. how ?
To delete it a folder, I think all that you have to do is to delete all of the references to it. In other words, for each measure where you created a subfolder, go into Properties and clear the contents of the Display Folder box.
But how can I delete a folder?
To delete it a folder, I think all that you have to do is to delete all of the references to it. In other words, for each measure where you created a subfolder, go into Properties and clear the contents of the Display Folder box.
I cannot find any clear way to remove an unwanted folder in the newest version of PBI, however I found that by selecting the measures contained within the existing folder, then deleting/clearing the ‘Display folder’ text box in the Properties pane, it will remove the folder from the Field pane. Seems odd there is no discrete way to remove the folder from the data model (watching tutorials it seems it was a feature at one point? A simple right click on the folder and ‘remove from data model’ was an option)
Say you have 3 fields under a folder f1. Select all through fields holding ctrl or shift,
Delete the Display folder name using backspace/del key.
Voila . All deleted at once . No individual deletes