Is there a way to make sub folders in my bookmarks?

Sndchck,

Just click on the Bookmark icon in the menu bar (or Safari>Bookmarks>Show All Bookmarks), then click on the second ➕ at the bottom of the Bookmarks window and then name and drag the folder which is created wherever you want it to be.

;~)

Ahh..but the folders from that technique do not come up in the
bookmarks pull down. I think the original poster was looking
for subfolders a la Explorer

Basically the same technique will work. Click on the Bookmarks Menu in the left window and click on the plus sign under the right window. A new folder will appear at the bottom of the list. You can drag this folder and drop it in any folder you want, including folders in other folders. You just have to be careful, however, because dragging items in the right-hand window can be tricky. You have to make sure that the folder you want to place the new one in is outlined by a rectangle before you let go of the mouse to drop it in. You can have as many nested layers as you want.

I used the Bookmarks Menu, but you can do the same thing with the contents of any of the folders in the left window, including the Bookmarks Bar.