How do I create the GodMode folder in Windows 7 & Windows 8?

Create a new folder on the desktop (or anywhere else) and rename it like below:

GodMode.{ED7BA470-8E54-465E-825C-99712043E01C}

It works for Windows 8, Windows 8.1 and Windows 10 as well...

It's a folder packed with shortcuts to just about every settings change and administrative function in Windows 7. Everything you'll find in the Action Center, Backup and Restore, Autorun, Desktop Gadgets, Devices and Printers -- it's all there. All dumped in one central location for easy access.

Note: You can use any name you want before the dot.

Is there a similar mode for XP?

No, but you can use Windows In A Box. The categorized pull-down menus allow even easier access to even more functions.

It's also available as Windows 7 In A Box.

Windows In A Box comes as a stand-alone executable, no installation is required.

You may rename Window`s In A Box.exe into GodMode.exe, if you want to :)

Besides the commonly known 'god mode' there are other similar solutions. The approach is the same as with GodMode: create a folder on the desktop and rename it to Name.{GUID}. Where Name can be anything you wish. A list of GUIDs is below:

GodMode.{ED7BA470-8E54-465E-825C-99712043E01C}
{00C6D95F-329C-409a-81D7-C46C66EA7F33}
{0142e4d0-fb7a-11dc-ba4a-000ffe7ab428}
{025A5937-A6BE-4686-A844-36FE4BEC8B6D}
{05d7b0f4-2121-4eff-bf6b-ed3f69b894d9}
{1206F5F1-0569-412C-8FEC-3204630DFB70}
{15eae92e-f17a-4431-9f28-805e482dafd4}
{17cd9488-1228-4b2f-88ce-4298e93e0966}
{1D2680C9-0E2A-469d-B787-065558BC7D43}
{1FA9085F-25A2-489B-85D4-86326EEDCD87}
{208D2C60-3AEA-1069-A2D7-08002B30309D}
{20D04FE0-3AEA-1069-A2D8-08002B30309D}
{2227A280-3AEA-1069-A2DE-08002B30309D}
{241D7C96-F8BF-4F85-B01F-E2B043341A4B}
{4026492F-2F69-46B8-B9BF-5654FC07E423}
{62D8ED13-C9D0-4CE8-A914-47DD628FB1B0}
{78F3955E-3B90-4184-BD14-5397C15F1EFC}