Right-click that folder, select Get Info, if necessary click the lock to the lower right, and add your user account to the list by clicking the + button add the bottom. Make sure your privilege is Read & Write, select your user name, click the cogwheel and select Make username (me) the owner.
If you took away your execute privilege, that might not work though.
Alternatively, open Terminal and type
sudo chown your_user_shortname /path/to/folder
sudo chmod u+rwx /path/to/folder
You can drag&drop the folder onto the Terminal window to keep from having to type the path.
su requires you to type the target user's password (root by default). Try it by typing:
su $( whoami )
It works after entering your password. root doesn't have a password on OS X to prevent root logins though.
If you're an Administrator (i.e. member of the wheel group which is granted sudo privileges in /etc/sudoers), you need to sudo first. Do the following:
sudo su
This allows you to type your account's password and then execute su after you get additional privileges from sudo.
stat folderName, match it with your details (id) and reconfirm the folder permissions. – nik Jun 16 '11 at 4:29