I have noticed weird favorite places on Roblox profiles. Mostly words in logo's (like the Roblox logo) letters. Such as Favorite the D! Favorite the A! and so on. Other profiles have emo places with the same tactic as the one previously mentioned. Except with the whole word in it. Such as Darkness, Surrounds You.
This could be a part of Roblox history. Since they could've wanted players to favorite their games to become popular?
This has been a long time fad on Roblox. As apple pie already said, it's usually used to spell out certain phrases or words (usually part of that user's username) or to spell out something they consider random and funny for other users.
In more recent years though, I've seen people favorite games that show signs of depression (albeit probably not severe depression) so that is quite concerning (you'll see places with like a black and white image or an "aesthetic" image (btw that word has been ruined and is not used properly anymore) with "cursive font" (used by an online generator, not really font it's just fancy unicode) spelling out something that'll ultimately spell out generic stuff like "𝓨𝓸𝓾 𝓵𝓮𝓯𝓽 𝓶𝓮" or "𝓗𝓮𝓪𝓻𝓽𝓫𝓻𝓸𝓴𝓮𝓷". Not too ideal but hey if that's what the community is all about now then I guess whatever.