If you want to move the favorites menu from one user to another user, easiest way would be using function modules.
They make your work easy. The steps to be followed are
1) goto transaction code SE37,
2)Enter the function module name MENU_FAVORITES_DOWNLOAD ,test run the module,
3) The enter the source user name in the field that appears & execute. You will be prompted for a local path or directory to save the file. Just give the file name as some user_source.mnu and save the file
4) Now enter run a function module MENU_FAVORITES_UPLOAD test run the modules
5) Enter the name username in which you want upload the menu favorites. It will prompt you for the file.
6) This operation require user login details