To create a shortcut, you can use the official documentation. Here is a sample code that creates a shortcut for a children of "This PC" (aka: ComputerFolder)

int main()
{
    CoInitialize(NULL);
    // I've used my Apple's iCloud as an example (name is in french)
    // it's a virtual folder, a shell namespace extension
    HRESULT hr = CreateComputerChildShortCut(L"Photos iCloud", L"c:\\temp\\my icloud");
    printf("hr:0x%08X\n", hr);
    CoUninitialize();
    return 0;
}

HRESULT CreateComputerChildShortCut(LPWSTR childDisplayName, LPWSTR path)
{
    // get My Computer folder's ShellItem (there are other ways for this...)
    CComPtr<IShellItem> folder;
    HRESULT hr = SHCreateItemInKnownFolder(FOLDERID_ComputerFolder, 0, NULL, IID_PPV_ARGS(&folder));
    if (FAILED(hr)) return hr;

    // enumerate children
    CComPtr<IEnumShellItems> items;
    hr = folder->BindToHandler(NULL, BHID_EnumItems, IID_PPV_ARGS(&items));
    if (FAILED(hr)) return hr;

    for (CComPtr<IShellItem> item; items->Next(1, &item, NULL) == S_OK; item.Release())
    {
        // get parsing path (if's often useful)
        CComHeapPtr<wchar_t> parsingPath;
        item->GetDisplayName(SIGDN_DESKTOPABSOLUTEPARSING, &parsingPath);
        wprintf(L"Path: %s\n", parsingPath);

        // get display name
        CComHeapPtr<wchar_t> displayName;
        item->GetDisplayName(SIGDN_NORMALDISPLAY, &displayName);
        wprintf(L" Name: %s\n", displayName);

        if (!lstrcmpi(childDisplayName, displayName))
        {
            // get pidl
            // it's the unambiguous way of referencing a shell thing
            CComHeapPtr<ITEMIDLIST> pidl;
            hr = SHGetIDListFromObject(item, &pidl);
            if (FAILED(hr)) return hr;

            // create an instance of the standard Shell's folder shortcut creator
            CComPtr<IShellLink> link;
            hr = link.CoCreateInstance(CLSID_FolderShortcut);
            if (FAILED(hr)) return hr;

            // just use the pidl
            hr = link->SetIDList(pidl);
            if (FAILED(hr)) return hr;

            CComPtr<IPersistFile> file;
            hr = link->QueryInterface(&file);
            if (FAILED(hr)) return hr;

            // save the shortcut (we could also change other IShellLink parameters)
            hr = file->Save(path, FALSE);
            if (FAILED(hr)) return hr;
            break;
        }
    }
    return S_OK;
}

Of course, if you know an absolute parsing path or an absolute pidl, you don't have to enumerate anything, this was just for demonstration purposes.