Presets can be used to save your favorite light configurations to apply later. You can compare them to the "scenes" feature present in some other smart devices.
There are 16 preset slots in total. In 0.9.0, the last preset (16) is capable of saving the entire segment configuration. All other presets only save a single segment (main segment, the first one by default) and restore that preset to all selected segments.
In the Favorites tab, the number buttons from 1-16 are the different save slots. Find a config you like, then toggle Saving mode on and click on a number to save the preset to that slot. If Saving mode is toggled off, you can restore presets with a single click.
With this feature, you can create an animation by automatically swapping between presets within a specified range. Keep in mind that any changes you make to effects/colors will be overriden once the system applies the next preset.
If you want to start the preset cycle on boot, go to LED settings and tick "Save current preset cycle configuration as boot default"