This has been done with Weblog Entries as options for a Freeform form… I’d imagine you might be able to manipulate this to work
It all depends on how you want to do it.
What I’d do is set up a Freeform form in a template. Then, the area you want populated with Favorites entries (let say Titles), move that/those field(s) to another template, wrapped with the Favorites:Entries loop. Then, embed that template into the Freeform Form template