Folder cannot be deleted in Finder sidebar

I moved a folder to the finder sidebar under favorites then accidentally erased files in original folder. Now message appears "xxxxxx can’t be opened because the original item can’t be found." when I try to delete or drag folder to trash bin. I am just trying to get rid of the folder, don't care about the files.

I am running Lion on an iMac

Hold down your "Command" key and drag the folder to the desktop and drop it there. It should go "Poof" and disappear.

Roger that chscag, "poof" technique worked great, couldn't get rid of it any other way. Thanks.