Apple, in it's infinite wisdom, has hidden the User/Library folder in Lion. You can 'unhide' it, as I and many others have done. However, the information to do that is on my work MacPro, so I'll have to wait until tomorrow to send it to you. If you check your User(Home) folder you'll notice that the Library folder is not shown. I assume Apple didn't want anyone messing with its contents without knowing the possible consequences. However, some of us would rather have that control. Damn the torpedoes, full steam ahead.
OK, I just did a search on another forum and found the following information. This link will show you how to 'unhide' the User/Library folder as well as hiding it again if you wish. The best approach would be to copy/paste the info into Terminal, just to make sure you have it right. There's also a little app that can be downloaded to handle this very easily with any file or folder, but I don't have the info on this computer. I'll try to remember to send it along tomorrow from work. I've been away for a week and can't remember the name of that app. Once you have unhidden your user/library folder you can then see the Printers folder and the printers you have installed, as usual. Hope this helps.