Create alias folders
You can create a copy of a folder that contains aliases (of MIDI regions) and clones (of audio regions) in the original folder. Then you can use the copied folder as an alternative mix folder, by muting regions, and editing instrument or playback parameters, for example. You can quickly switch between different arrangement versions simply by muting and soloing different folders.
Create an alias folder
Hold down Shift and Option as you drag the folder to the position where you want the alias to start.