As an addendum to Luis Lavieri's answer, and eqrakhattak's comment on said answer (which I can't leave as a comment because I don't have enough reputation yet):

You should be able to get to the virtual devices folder by opening the Device Manager window (Tools -> Device Manager), and then click the three dots to the far right for the virtual device in question, and finally selecting "Show on Disk".

At least that is current in the current Mac version of Android Studio.