How do you format USB thumb drive?

There are multiple formats available for storing USB content.

Today, FAT32 is the most common format, compatible across platforms (Windows, MAC, DOS, and UNIX-based system). FAT32 is limited in terms of file size support (no more than 4GB) and can
be limited by certain operating systems. However, Thumb drives allow for customized flexibility options. For window-based machines, USB content can be formatted in exFAT; for Mac OS, HFS+.

Thumb drives also allow for two partitions—one exFAT specific to Window and the HFS+ specific to Mac OS, all on the same USB, catering to all customers.