While Funnels are viewed on the Funnels, Events & Errors tab, they are created in the Settings tab under User Analytics.
To create a new Funnel, click New Funnel, name it and add the events in the order you wish the user conversion path to occur.
When you add events, the first drop-down represents the Event Group, the second drop-down is the actual event (or you can choose “Any Event” to add any event from the entire group, and the third is the number of times the event needs to occur to count as a conversion through that step of the funnel.
Once all of your events are added, click Save and the funnel will be available to view in the Funnels, Events & Errors tab.
Funnel data will be populated with all event counts received in the past and will populate going forward.