User saved presets are located here:
Mac: Users/[Username]/Library/Application Support/Adobe/Adobe Photoshop CS5/Presets/[feature name]
Windows 7 and Visata: Users/[Username]/AppData/Roaming/Adobe/Adobe Photoshop CS5/Presets/[feature name]
Windows XP: Documents and Settings/[Username]/Application Data/Adobe Photoshop CS5/Presets/[feature name]
Alternately, if you just need to move one preset, you can select the item you want to move and save it out and load it. For example, select an action in the Action panel and choose "Save Action..." from the panel menu. After you've saved the file, you can load it by simply dragging the action you just saved on to the Photoshop application icon in the Finder or Windows OS
You may also wanna look into the below mentioned doc as well.
hope It helps
Techkid, do you know for a fact that files saved with Photoshop CS5 work right in Photoshop CS6 when copied like that?
I would never advise someone to copy proprietary files from one version to another without knowing for sure.
Depend upon the Presets one is using.
Some presets can be copied and carried forward to the next version .
however some presets needs to be reinstalled.
that can be checked once the copied preset does not work.
My advice to captain terry is to avoid copying files between versions because doing so could potentially destabilize Photoshop. There are ways, if I'm not mistaken, to save presets from the menu into specific files meant for use in different versions.
My advice to techkid is to avoid advising people to do things that you don't know are valid. Even if things might seem to work, it's playing with fire to just copy settings files from one version to another. At the very least add a disclaimer stating that you don't really know it will work and to back up the file(s) being replace, and watch for errors.