Write a simple autorun file for your thumbdrive to assign a new icon and name.
Step 1: Step One - Write Your Autorun File.
Create a new notepad document. Inside it, copy this text:
label = "NAME"
icon = "icon.ico"
Replace the word NAME in the quotes with what you would like your thumbdrive to be labelled.
Save this file into your thumbdrive as autorun.inf making sure that it does not have the extention .txt at the end.
Step 2: Step Two - Find an Icon.
Find an image file you'd like as your thumbdrives icon. A great site for this is http://www.iconfinder.net/
Save the image you find, naming it icon and into the root folder of your thumbdrive, which is the directory named, for example, F:/ and is what you go into when you double click the shortcut in My Computer.
Step 3: Step 3 - Convert the Image to an Icon
Go to the website http://www.convertico.com/ and choose option II. "Upload a PNG or ICO file." Browse to your thumbdrive and select the image you just downloaded and select it. Click convert. It will take you to a page saying "Your new icon". Right click the link below and say save as. Save the file as icon.ico into your thumbdrive.
Step 4: You're Finished!
You can now delete the file called icon.png or leave it if you like. Safely remove your thumbdrive from your computer. Reinsert it and it should be labelled as you have specified, and have a new icon.
If this doesn't happen, run back through and ensure you have in your drive a file called autorun.inf and icon.ico. If it still doesn't work, ensure you have written in your code correctly. It should have your label as what you want to say, and the source for icon should be icon.ico