“Group friends into custom lists to avoid a one-size-fits-all approach. You can create additional lists that are subsets of your existing Friends lists. Use these lists to filter certain content, either in individual posts or in your overall privacy settings. You can create and manage these lists on the Friends management page while you’re signed in to Facebook. You’re the only one who can see the titles and users in your custom lists.
To create a custom Friends list, go to your Friends management page (Account > Edit Friends) and click Create a List. In the dialog window, enter a list name and click the profile pictures from those shown to select friends to add to the list. Click Create List to save the selections. To add or remove people in the list at any time, return to the friendship management page and either select the list from the left or mouse over a specific user and use the Edit Lists menu to toggle the checkmarks of which lists that user belongs to.”
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