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By default you cannot rename the recycle bin but you change it by following the following steps:

(1) Open NOTEPAD in your computer

(2) Enter the following data in it

REGEDIT4

[HKEY_CLASS_ROOTCLSID{645FF 040-5081-B-9F08-00AA002F954E}ShellFolder]
"Attributes"=hex:50,01,00,20
"CallForAttributes"=dword:0000 0000

(3) Save the file as "recyclebin.reg" (without the inverted commas)

(4) Now open the file

(4) Now you can rename the RECYCLE BIN as you wish!!