To be clear, I didn't hear of this in any particular venue, and so can't point you to one.
Two variants that I can bring you:
Given a string (sequence of elements), and a function that takes a substring and returns a score/penalty. Overall score is the product of scores of chosen split.
Find the optimal way to split the string into consecutive, non-overlapping substring to maximize the score.
Given the same as (1).
Also given a function that takes two substring and an edge (head-head, head-tail, etc.) specifying how the substrings will connect, returns a score.
Find the optimal way to "fold" the string. Any two "elbows" (or folding points) can be made to touch. No length limitations (substring length is not geometrically motivated).
I haven't been able to find mentions of "optimizing string splitting" online. So I'm doubting it might be more specialized than I'd thought.