Creates a component and folder and set insert options for standard values on the folder

Scaffold-Component-And-Folder.ps1

function Scaffold-Component-And-Folder([string]$componentName, [string]$componentPath){
      
      ###create component template###
      $componentItem = New-Item -Path $componentPath -Name $componentName -ItemType "/sitecore/templates/System/Templates/Template"
      $componentItem.Editing.BeginEdit()
      
      #set default component icon
      $componentItem["__Icon"] = "/~/icon/software/32x32/component.png";
      $componentItem.Editing.EndEdit()
      Write-Host "Component Created: " $componentItem.Name
      
      ###create component folder template###
      $componentFolderItem = New-Item -Path $componentPath -Name "$componentName Folder" -ItemType "/sitecore/templates/System/Templates/Template"
      $componentFolderItem.Editing.BeginEdit()
      
      #set default folder icon
      $componentFolderItem["__Icon"] = "/~/icon/applicationsv2/32x32/folder_cubes.png";
      
      #add standard values
      $standardvalues = New-Item -Parent $componentFolderItem -Name "__Standard Values" -type $componentFolderItem.ID
      $componentFolderItem["__Standard values"] = $standardvalues.ID;
      $componentFolderItem.Editing.EndEdit()
      
      #add insert options 
      $insertOptions = New-Object System.Collections.ArrayList
      $insertOptions.Add($componentItem.ID)
      $insertOptions.Add($componentFolderItem.ID)
      $insertOptionsToAdd  = [string]::Join("|",$insertOptions.ToArray())
      
      $standardvalues.Editing.BeginEdit()
      $standardvalues["__Masters"] = $insertOptionsToAdd;
      $standardvalues.Editing.EndEdit()
      
      Write-Host "Component Folder Created & Configured: " $componentFolderItem.Name
}