If you were invited to participate in the new Yahoo! Groups, click the link to Join the new Yahoo! Groups Beta in the invitation. You’ll then see an option to Create new group!
If you’re a member or a moderator of a group that’s already participating in the Yahoo! Groups Beta, you can start a new group by clicking my groups in the upper left corner of any page of your group and selecting Start a Group at the bottom of the pull-down menu.
Your group will be listed in the Yahoo! Groups directory within 24-48 hours, in the category you select during the set-up process.