Kodi in portable mode by adding the -p switch (in the Target field after the closing quotation mark) to the shortcut's properties used to launch Kodi. This will then use the Kodi folder itself as the Home folder, which means scripts, plugins, skins and userdata will be located in the 'portable_data' folder within the Kodi folder. This is useful for running Kodi for Windows off a USB stick for portability.
You'll have to put the Kodi folder in a place where standard users have write permission (e.g. not under Program Files) or run the shortcut as admin (even though you're logged in with an admin account). Otherwise you'll get the error message "ERROR: Unable to create application. Exiting."
You will, however, have to be careful when upgrading to make sure that the userdata folder you use is not overwritten.
Example
Install in d:\krypton, go in the folder, find kodi.exe, click right button mouse, select option send to desktop. Now you have shorcut desktop, change properties like image, and allways run kodi via shortcut.