yarLson here is a slightly more advanced .BAT, copy this into notepad and save as .BAT
:input
set DRIVE=
set /P DRIVE=Type drive letter: %=%
set INPUT=
set /P INPUT=Type drive name: %=%
if "%INPUT%"=="" goto input
label %DRIVE%: %INPUT%
that is a BAT file that will ask for your input for which drive you want to change the name of and what you want to name it (so for the first question just put the drive letter like "C" and for the second question type the name of the drive like "FF7DISC1" and hey presto it will rename that drive.