At the command prompt, type:
LABEL x: yourlabel
Where x: is the letter of your drive, and yourlabel is the name you would like to have.
From LABEL /? :
Creates, changes, or deletes the volume label of a disk. LABEL [drive:][label] LABEL [/MP] [volume] [label] drive: Specifies the drive letter of a drive. label Specifies the label of the volume. /MP Specifies that the volume should be treated as a mount point or volume name. volume Specifies the drive letter (followed by a colon), mount point, or volume name. If volume name is specified, the /MP flag is unnecessary.
Edit: As @mark noted, this does not work with mapped drives. This seems to be a common problem, and there may be a way to achieve this using the registry, or a little easier using a small vbs script .
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