You can easily rename various Desktop (System Icons).

To change your system icons, follow the next steps:

1. Open the Registry Editor click on the Start button on your taskbar, then click on Run and type "regedit" and click on OK to start the regedit utility.
    
2. Expand HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\CLSID (see picture 1).
   
   

   Picture 1

3. The Desktop Icons are located in the sub keys as follows:
    
   • My Network Places: {208D2C60-3AEA-1069-A2D7-08002B30309D}
   • My Computer: {20D04FE0-3AEA-1069-A2D8-08002B30309D}
   • My Documents: {450D8FBA-AD25-11D0-98A8-0800361B1103}
   • Recycle Bin:{645FF040-5081-101B-9F08-00AA002F954E}
   • Default IE Icon: {871C5380-42A0-1069-A2EA-08002B30309D}
      
4. Double click the Default value in the above keys and enter the text you desire. 
    
5. Right click on the Desktop and select Refresh to see the changes.
    
6. To undo the changes, just right click on the Default value and select Delete. 
    
7. Refresh the Desktop to see that things are back to normal.