This is useful because, in Safari for Mac, the Favorites bar allows bookmarks to be triggered with keyboard shortcuts, which is really handy for bookmarklets and other tools. Since those kinds of bookmarks probably aren’t as useful on iOS, you can go to Settings > Safari > Favorites, and pick any of your other Safari bookmark folders. For my uses, I created a new folder called iOS Favorites for the sites and bookmarklets that are much more useful to me on iPhone and iPad.
In iOS 7, Safari gained a really useful feature where it displays a list of your favorite bookmarks and folders when you tap the Smart Search Field (by default, Safari uses the Favorites folder). It makes these bookmarks no more than two taps away, and you can tell Safari to use a specific folder of bookmarks to display here.