Recently one of my friends had the same problem. His machine was hit by some viruses which disabled the ‘Folder Options’ Option in the Tools menu in Windows Explorer. This is mostly done by viruses to restrict user from viewing hidden files which one can see after changing settings in ‘Folder Options’ itself (What? You don’t know how to see hidden files? Contact me!).
For those who want to get there ‘Folder Options’ back here we have 2 ways out.
Lets see the first one:

1. Click on ’start’ and then ‘run’.
2. In the ‘run’ dialog box type gpedit.msc. The Group Policy window will open.
3. Navigate to the following location: User Configuration> Administrative Templates> Window Components> Windows Explorer
4. In the right pane, find the ‘Remove the folder options menu item’. Set its value to ‘Not Configured’ by double clicking and setting the correct option.

Now if you like playing with Windows Registry, follow these steps:

1. Open registry editor by typing regedit in the run dialog box.
2. Navigate to the following key: HKEY_CURRENT_USER\ Software\ Microsoft\ Windows\ CurrentVersion\ Policies\ Explorer
3. Find the NoFolderOptions key in right pane. Change its value to 0. If you do not have this key. Just create it!