The steps given below will add Control Panel to your Desktop Right Click Menu.

Once you select that item, it will immediately open up Control Panel:

You could use the same technique
to add any item into the context menu, or you could even use the same
location in the registry to remove things like the NVIDIA Control Panel
or ATI Control Center from the menu.
Manual Registry Hack
Open up regedit.exe through the start menu search or run box, and then browse down to the following key:
HKEY_CLASSES_ROOT\Directory\Background\shell
Once you are there, you’ll want to right-click on “shell” and create a new key called Control Panel.

Under that one, you’ll want to right-click and create a new key called “command”.

Select the “command” key on the left-hand side, and then
set the (Default) value on the right-hand side to the following:
rundll32.exe shell32.dll,Control_RunDLL
You should
immediately see the new item in your context menu, and it should be
working. To remove, simply delete the Control Panel key.
Downloadable Registry Hack
Simply
download, extract, and double-click on the
AddControlPanelToDesktopMenu.reg file to enter the information into the
registry. You should immediately see the new item. To remove, use the
included remove script.