Scenario:
User wants to Re-Arrange or Remove some options on the 'Create New' menu in a record.
Solution:
1. Open the record in View mode
2. Click on the Create New
3. Click on Personalize on the Create New. 
It'll take you to the Customize New Bar page and from there, you can Click and Drag the links to re-arrange or Un-mark the Include checkbox to remove the link/s on the Create New options.
Please note that Create new options are different for each type of records. The screenshot above is for an Invoice record.