Ubuntu 11.10 no longer has the Create Launcher option in the Desktop right click menu. A launcher items can still be created by installing the gnome-panel.
1) Start “Ubuntu Software Center” from the Launcher
2) Type “gnome-panel” into the search bar, the item “launcher and docking facility for GNOME” will be displayed
3) Click on it and if a “Install” button is available on the right side click it. Authenticate when asked to do so
4) When the install is complete open a terminal window (click on the terminal item in the launcher.
5) Type “gnome-desktop-item-edit ~/Desktop/ –create-new” and press enter. The following window will be displayed
6) Enter the details of the program, change the icon by clicking on the icon and choosing an appropriate icon and click OK.
7) You now have launcher item on the Desktop to add this to the launcher. Open your Home Folder. (if hidden files are not shown press Ctrl + H and browse to .local/share/applications. Drag and drop your Launcher item from Desktop to that folder.
8) Now drag and drop your launcher from .local/share/applications to the Launcher Bar on the left on your Screen.
9) You can now delete your custom Launcher on the Desktop if it’s still there.