My favorite edit button of safari is missing Click on the Side bar icon in the upper left corner of Safari.
Select the bookmarks icon.
Open the Favorites section by clicking on the arrow.
Click Edit.


Where is the "EDIT" button?  

Help me please!
You may be a victim of Apple changing functionality of Safari features. Something they do all the damn time. Which can be frustrating when you are used to that functionality. Trying to figure out why Apple does something like this is an exercise in frustration. However...

You can edit your Bookmarks/Favorites under the Bookmarks menu option "Edit Bookmarks"