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Running OS X El Capitan (late 2013 iMac). Unfortunately it looks like the "show displays in menu bar" option was removed from System Preferences. Is it possible to get the menu back?
PS - opening the Displays.menu file (/System/Library/CoreServices/Menu Extras/Volume.menu) adds the menu back, but as soon as I click on it, it disappears.
Also, if it's of any relevance, I've got HiDPI mode enabled (but not active). 99% sure it doesn't matter, disabling HiDPI mode didn't affect the issue.
You could use a third-party utility named Display Menu. It's available in the App Store for free. I've been using it for quite a while and it has work just fine.
By the way, when I open /System/Library/CoreServices/Menu Extras/Displays.menu it puts the same menu as the [] Show mirroring options in the menu bar when available check box in System Preferences > Displays > Display, does when checked, but does check the box.
macOS 11 Big Sur introduced the Control Center for Mac, and now you can simply drag the panel for Display (or almost any other control there) right into the menu bar:
This doesn't give direct access to a list of resolutions like it used to, but does offer quick switches for Dark Mode, True Tone, and Night Shift, as well as a brightness slider and a button to open display settings via System Settings/Preferences. (You can also quickly get to that screen by holding option and pressing the brightness control keys - option + F1 or F2.)
Third-party utilities like Display Menu (mentioned in user3439894's answer) or BetterDisplay (my preference) offer detailed menu bar controls for resolution switching and more.
