Directory test is just a mount point. On the partition c0t0d0s5, you have a directory test1 and files or subdirectories "one two three four" under it. If you want test1 to become the top directory, move all files/directories out of directory test1. Once you do this, you should be able to run a ls on test and see:
cd test
ls
test1 one two three four.
Remove directory test1
rmdir test1
unmount /dev/dsk/c0t0d0s5
mv test test1
cd /etc
vi vfstab
The entry for c0t0d0s5, change the mount point to test1
mountall