Deleting, Duplicating, and Renaming a Path in Photoshop

To delete a path, drag the path to the trash can icon at the bottom of the palette. Or choose Delete Path from the Paths palette pop-up menu.

You can duplicate a saved path by choosing the path in the Paths palette and selecting Duplicate Path from the Paths palette pop-up menu.

You can also drag the saved path on top of the Create New Path icon at the bottom of the palette.
To rename a path, double-click the path name in the Paths palette. Then enter the new name directly within the palette.