A thesis is a focused study of a research question or problem. It may involve original research, action research or a secondary analysis of an existing data set.
A starred paper can have a wide variety of formats, purposes and outcomes. It is expected that your paper will include a research component and be significantly greater in quality and quantity than a standard graduate term paper. It may use secondary research sources.
Your starred paper should include an applied, practical or activist component.
Portfolios require a significant professional project or a portfolio of projects, which may or may not be prepared in conjunction with your coursework.
A portfolio final paper should include a mission statement, goals of the project, a plan of action, documentation of the action and an analysis and evaluation of the action.