Overwhelmed by your News Feed? Too much to read? Facebook allows you to create groups of your friends so you can temporarily just see who you want to see in your News Feed. For example, you might create a group of “Relatives” or “College Buddies.” To make a new group:

1. In the News Feed column, click “More”
2. Click “Create New List”
3. Name the list and select the friends you want to include.

Now when you visit Facebook, just click the group in your News Feed list, and you will see updates only from friends in that group!

in reference to: Facebook | Home (view on Google Sidewiki)