Click on the hamburger menu on the top left of your hive and then click on the button next to teams.
Type in the name of the team you want to create in the "Search or Create" bar.
In case, a team with that name doesn't exist already, you'll see this window.
Click on "Create new team".
Enter the Name and short description of the team you want to create.
Search and add users of the hive to the team and select visibility for the team.
Click on create and that team will be created.