You are looking for a Shell Namespace Extension. An entry Point for documentation is Creating Shell Data Source Objects and Extending the Shell Namespace.
An example of a almost complete Project can be found on codeplex: An almost complete Namespace Extension Sample Also in the Windows SDK 7, there is an example of using the Shell ExtensionNamespace (can be found in the folder "Microsoft SDKs\Windows\v7.1\Samples\winui\shell\shellextensibility\explorerdataprovider"). In this Folder you will also find a document which describes the programming model (Using the System Folder View.doc).
If you really want to create a "real" file System Driver, you might want to look at this SO article: Creating a File System "Driver" which mainly referes to the Ext2 file system driver project.