I think this is probably describing the behaviour of the stock launcher on this version of the Samsung UI. Those of us who use different phones or different launchers aren't going to be familiar with it.
But for clarity, do you mean a pop-up menu next to the icon (in which case you select the option rather than move the icon), or a panel at the top of the screen that you drag the icon onto? (Or, of course, something else?). I've encountered both interfaces, though the first is more familiar to me.