I changed the names on mine that way. When you look at them in 'my computer' you know which is which that way, but when you click 'Safely Remove' they are still called Drive G, Drive H, etc.

I rename mine all the time, by right right click/rename. Doesn't change anything - just the name that shows up.

It helps me keep track of who's USB drive is who's around here.

Don't worry. Rename at will. It is moderately complicated to change drive letters, and not something you will ever accidentally do!

To name a thumb-drive:

Bring up the "My Computer" panel.
All the connected drives and storage devices should show.

Right click on the thumb drive, and then click on properties. At the top of the properties panel is a box for the name of that device. It will be blank if the device has never been named. Type in the name you wish to use and then click "apply".

This name is written to the storage device. Thus, when a thumb drive is removed from one computer to another, its name goes with it.

A name can be changed or removed by using the steps above. To remove a name, merely delete all the characters in the name box and click "Apply".

This procedure also applies to floppy disks.

This precedure should work for rewritable CDs and DVDs as well. I'm not sure how it works for for "write-once CDs".

Sorry it's taken me sooooo long to get back here.

Just wanted to say thank you very much to all who have responded. It really is pretty simple isn't it ? Probably can't screw that up.....hahaha

Thanks !