Create a batch file, for example: symlink.bat with the following content and edit the source and target locations to suit.

@echo off
set "source=c:\source\directory"
set "target=c:\target\directory"
set "exclude=%temp%\exclude.txt"

    rem exclude files/dires with these strings into full path
    echo .txt
    echo pipe.cmd

    rem escaped backslash and initial and final quotes to avoid partial matches
    echo "c:\\source\\directory\\something.txt"

    rem exclude thisNot file/directory from source directory
    echo "%source:\=\\%\\thisNot"

)> "%exclude%"

forfiles /P "%source%" /C "cmd /c (echo @path|findstr /i /v /g:"%exclude%" >nul) && if @isdir==TRUE (mklink /d \"%target%\\\"@file @path) else (mklink \"%target%\\\"@file @path)"

del "%exclude%" > nul

Original answer posted on: stackoverflow