Generally windows do not allow you to rename the recycle bin but with little effort we can do it. To do this we are going to change windows registry. So I suggest back up or make system restore point before you going to play with registry. And be careful If you edit something wrong you r whole system will be crash or will not work properly.
Open registry (windows + R and type regedit in RUN box)
Go
HKEY_CLASSES_ROOT-->
CLSID-->
{645FF040-5081-101B-9F08-00AA002F954E}-->
ShellFolder
In "shellFolder" change the "Attributes" data value from "40 01 00 20" to "50 01 00 20"
After that (to edit just double click on the shellFolder )
Double click on "CallForAttributes" and set "Value Data " to "0".
That's all .now get off from registry . now you can rename Recycle bin like any other icon. So set any name you want like "Garbage truck".