From the Saved Searches area, you can mark certain saved searches as favourites for quicker access.
Assigning a saved search as a favourite
Find the saved search you wish to tag.
Select the star icon beside the saved search name. It will be highlighted in green once selected:

The saved search is now marked as a favourite.
NOTE: Favourite saved searches are indicated with a highlighted green star. Non-favourites show an empty star.
Unassigning a saved search as a favourite
Select the green star beside the saved search name. The star will no longer be highlighted in green once unassigned.
To show only your favourites, see Filtering a saved search.