[chiaz]

NOTE: Before we start doing anything, please back up your registry. You should also create a new Restore Point.
Be warned, even after doing these steps editing the registry can be dangerous to a novice user.

Now let's start:
By default, you can't rename the Recycle Bin. But doesn't renaming it as Trash Bin makes more sense?
To rename your Recycle Bin, click Start > Run, then type "regedit" (without the quotes) in the dialog box, and click OK. This launches Windows Registry Editor. Navigate to "HKEY_CLASSES_ROOT\CLSID\{645FF040-5081-101B-9F08-00AA002F954E}\SHELLFOLDER". Next, double-click Attributes in the right pane to open the Attributes dialog box. You'll see a data value of "0000 40 01 00 20" Highlight the 40, then change the 40 to 50 so that the Value Data looks like "0000 50 01 00 20" then click OK. Also make sure that the Call for Attributes data value is set to 0x00000000(0), by double-clicking it and typing 0 (zero) as its Value Data if necessary. Now, right-click your Desktop and click Refresh on the Shortcut menu. Now right-click the Recycle Bin and you now have Rename as an option on the shortcut menu. If you want to get rid of Rename on your shortcut menu, chnage back the Attributes Value Data from 50 to 40.