The problem with this is there's only one msdos.sys file, which points
   to only one copy of Windows 95. You could edit msdos.sys (which is
   just a text file in Win95) to point to either copy, but this is
   annoying. A better technique is to borrow someone's copy of OS/2 and
   install Boot Manager, then have two bootable partitions, each with its
   own copy of Win95.
   
   The first technique is great, however, for developers experimenting
   with their apps, without destroying their primary copy of Win95, and
   for those without friends using OS/2.
   
   4.00.950B users can't use FAT32 file system if you install a non-950B
   version alongside a 950B version. Be careful.
   
     * 2.5.1. Can I boot from a floppy disk and then run Win95 from a
       hard drive?
       
   A few people actually asked this...
    1. Get Win95 to start normally (off the hard drive!)
    2. Make a Win95 DOS boot disk using Add/Remove Programs / Startup
       Disk or formatting a disk with /S
    3. Copy the msdos.sys file from your hard drive to the floppy. This
       file contains the pointers to your installed copy of Win95; you
       can edit it as you need to as well.
    4. Copy himem.sys, ifshlp.sys, and setver.exe from your Win95
       directory to the boot floppy.
    5. Try booting from the floppy.
       
   The idea is, msdos.sys contains the paths to your installed copy of
   Win95, which could be on another directory or even another drive. This
   lets you install it on drive D: for example, but it still needs to
   boot from A: or C: to bring up the real mode bootstrap (Good ol' DOS).
   You will need to make one edit on the boot floppy's MSDOS.SYS file
   though; change "HostWinBootDrv=C" to "HostWinBootDrv=A".