Although it hasn't been designed for it you can use "testlog://" links for test configurations (see the "Linking to Test Cases" section in the help). So you can enter
into a test case or project test case field and it will create a link to TestConfig1.
<a href="testlog://Test Configurations/TestConfig">TestConfig1</a>
As it wasn't the intention when this feature added there are likely to be cases where they will not always work. For example if you create a link like "testlog://Test Configurations/TestConfig1" in a test case and then convert that test case to a project test case it will corrupt the link (changing it to "testlog://Project Test Cases/TestConfig1").