Index: src/wp-admin/css/nav-menus.css
===================================================================
--- src/wp-admin/css/nav-menus.css	(revision 28731)
+++ src/wp-admin/css/nav-menus.css	(working copy)
@@ -399,6 +399,10 @@
 	float: left;
 }
 
+#menu-item-placeholder-wrap {
+	margin-left: 72px;
+}
+
 /* Menu item types */
 .quick-search {
 	width: 190px;
@@ -643,6 +647,11 @@
 	text-align: center;
 }
 
+.menu-item-placeholder .field-link-target,
+.menu-item-placeholder .field-xfn {
+	display: none;
+}
+
 .link-to-original {
 	display: block;
 	margin: 0 0 10px;
Index: src/wp-admin/includes/ajax-actions.php
===================================================================
--- src/wp-admin/includes/ajax-actions.php	(revision 28731)
+++ src/wp-admin/includes/ajax-actions.php	(working copy)
@@ -1051,6 +1051,7 @@
 		if (
 			! empty( $menu_item_data['menu-item-type'] ) &&
 			'custom' != $menu_item_data['menu-item-type'] &&
+			'placeholder' != $menu_item_data['menu-item-type'] &&
 			! empty( $menu_item_data['menu-item-object-id'] )
 		) {
 			switch( $menu_item_data['menu-item-type'] ) {
Index: src/wp-admin/includes/nav-menu.php
===================================================================
--- src/wp-admin/includes/nav-menu.php	(revision 28731)
+++ src/wp-admin/includes/nav-menu.php	(working copy)
@@ -195,7 +195,7 @@
 				</p>
 
 				<div class="menu-item-actions description-wide submitbox">
-					<?php if( 'custom' != $item->type && $original_title !== false ) : ?>
+					<?php if( 'custom' != $item->type && 'placeholder' != $item->type && $original_title !== false ) : ?>
 						<p class="link-to-original">
 							<?php printf( __('Original: %s'), '<a href="' . esc_attr( $item->url ) . '">' . esc_html( $original_title ) . '</a>' ); ?>
 						</p>
@@ -576,7 +576,13 @@
 
 	?>
 	<div class="customlinkdiv" id="customlinkdiv">
-		<input type="hidden" value="custom" name="menu-item[<?php echo $_nav_menu_placeholder; ?>][menu-item-type]" />
+		<input type="hidden" value="custom" id="custom-menu-item-type" name="menu-item[<?php echo $_nav_menu_placeholder; ?>][menu-item-type]" />
+		<p id="menu-item-placeholder-wrap">
+			<label for="custom-menu-item-placeholder">
+				<input id="custom-menu-item-placeholder" name="menu-item[<?php echo $_nav_menu_placeholder; ?>][menu-item-placeholder]" type="checkbox" value="1" > <?php _e( 'Placeholder' ); ?>
+			</label>
+		</p>
+
 		<p id="menu-item-url-wrap">
 			<label class="howto" for="custom-menu-item-url">
 				<span><?php _e('URL'); ?></span>
@@ -1047,12 +1053,15 @@
 
 		// Loop through all the menu items' POST values
 		foreach( (array) $menu_data as $_possible_db_id => $_item_object_data ) {
+			if ( isset( $_item_object_data['menu-item-placeholder'] ) ) {
+				$_item_object_data['menu-item-type'] = 'placeholder';
+			}
 			if (
 				empty( $_item_object_data['menu-item-object-id'] ) && // checkbox is not checked
 				(
 					! isset( $_item_object_data['menu-item-type'] ) || // and item type either isn't set
-					in_array( $_item_object_data['menu-item-url'], array( 'http://', '' ) ) || // or URL is the default
-					! ( 'custom' == $_item_object_data['menu-item-type'] && ! isset( $_item_object_data['menu-item-db-id'] ) ) || // or it's not a custom menu item (but not the custom home page)
+					( 'placeholder' != $_item_object_data['menu-item-type'] && in_array( $_item_object_data['menu-item-url'], array( 'http://', '' ) ) ) || // Or URL is the default (and it isn't a placeholder).
+					! ( in_array( $_item_object_data['menu-item-type'], array( 'custom', 'placeholder' ) ) && ! isset( $_item_object_data['menu-item-db-id'] ) ) || // Or it's not a custom or placeholder menu item (but not the custom home page).
 					! empty( $_item_object_data['menu-item-db-id'] ) // or it *is* a custom menu item that already exists
 				)
 			) {
Index: src/wp-admin/js/nav-menu.js
===================================================================
--- src/wp-admin/js/nav-menu.js	(revision 28731)
+++ src/wp-admin/js/nav-menu.js	(working copy)
@@ -791,6 +791,15 @@
 					$( '#submit-customlinkdiv' ).click();
 				}
 			});
+			$( '#custom-menu-item-placeholder').change( function() {
+				if ( this.checked ) {
+					$( '#menu-item-url-wrap' ).slideUp( 'fast' );
+					$( '#custom-menu-item-type' ).val( 'placeholder' );
+				} else {
+					$( '#menu-item-url-wrap' ).slideDown( 'fast' );
+					$( '#custom-menu-item-type' ).val( 'custom' );
+				}
+			} );
 		},
 
 		/**
@@ -883,17 +892,23 @@
 		},
 
 		addCustomLink : function( processMethod ) {
-			var url = $('#custom-menu-item-url').val(),
+			var type = $('#custom-menu-item-type').val(),
+				url = $('#custom-menu-item-url').val(),
 				label = $('#custom-menu-item-name').val();
 
 			processMethod = processMethod || api.addMenuItemToBottom;
 
-			if ( '' === url || 'http://' == url )
+			if ( 'placeholder' == type ) {
+				url = '';
+			} else if ( 'custom' != type ) {
 				return false;
+			} else if ( '' === url || 'http://' == url ) {
+				return false;
+			}
 
 			// Show the ajax spinner
 			$('.customlinkdiv .spinner').show();
-			this.addLinkToMenu( url, label, processMethod, function() {
+			this.addLinkToMenu( type, url, label, processMethod, function() {
 				// Remove the ajax spinner
 				$('.customlinkdiv .spinner').hide();
 				// Set custom link form back to defaults
@@ -902,13 +917,13 @@
 			});
 		},
 
-		addLinkToMenu : function(url, label, processMethod, callback) {
+		addLinkToMenu : function( type, url, label, processMethod, callback ) {
 			processMethod = processMethod || api.addMenuItemToBottom;
 			callback = callback || function(){};
 
 			api.addItemToMenu({
 				'-1': {
-					'menu-item-type': 'custom',
+					'menu-item-type': type,
 					'menu-item-url': url,
 					'menu-item-title': label
 				}
Index: src/wp-includes/nav-menu.php
===================================================================
--- src/wp-includes/nav-menu.php	(revision 28731)
+++ src/wp-includes/nav-menu.php	(working copy)
@@ -349,7 +349,7 @@
 
 	$original_parent = 0 < $menu_item_db_id ? get_post_field( 'post_parent', $menu_item_db_id ) : 0;
 
-	if ( 'custom' != $args['menu-item-type'] ) {
+	if ( 'custom' != $args['menu-item-type'] && 'placeholder' != $args['menu-item-type'] ) {
 		/* if non-custom menu item, then:
 			* use original object's URL
 			* blank default title to sync with original object's
@@ -407,6 +407,10 @@
 	if ( 'custom' == $args['menu-item-type'] ) {
 		$args['menu-item-object-id'] = $menu_item_db_id;
 		$args['menu-item-object'] = 'custom';
+	} elseif ( 'placeholder' == $args['menu-item-type'] ) {
+		$args['menu-item-object-id'] = $menu_item_db_id;
+		$args['menu-item-object'] = 'placeholder';
+		$args['menu-item-url'] = '';
 	}
 
 	$menu_item_db_id = (int) $menu_item_db_id;
@@ -680,7 +684,7 @@
 				$menu_item->title = '' == $menu_item->post_title ? $original_title : $menu_item->post_title;
 
 			} else {
-				$menu_item->type_label = __('Custom');
+				$menu_item->type_label = ( 'placeholder' == $menu_item->type ) ? __( 'Placeholder' ) : __( 'Custom' );
 				$menu_item->title = $menu_item->post_title;
 				$menu_item->url = empty( $menu_item->url ) ? get_post_meta( $menu_item->ID, '_menu_item_url', true ) : $menu_item->url;
 			}