Update: User Profiles in Xfce-Terminal - Tree-View in Thunar
The aim of this feature is to enable users to create multiple different profiles. A profile is just a combination of preferences.
This allows the user to quickly switch between predefined profiles when the need arises. As a use case scenario, let us consider the following example. One might want to have one particular tab transparent. So one can just create a new profile and change the transparency value on that profile. Then proceed to switch the profile by selecting the desired profile form the newly added "Profiles" menu.