In order to remove a user as a favorite, you will need to follow these simple steps:

1. On the users profile you will need to click on round + icon 

2. Once the menu pulls up on the right side, you will click on the xPerson icon

3. You will then receive a pop up message confirming that you want to remove the friend.

4. You will now see that xperson icon change to a +Person Icon. 

Now you can go to the main menu -> My friends and you will see a list of all of your favorite friends and if they are online. Notice that the friend you removed won't be on that list any more.