How do I change name of ipod?

I'm giving my son my ipod and can't figure out if I can change its name (the ipod, not my son). Is this possible?
In itunes, where is shows the name of the ipod on the left hand side, click on the name, and it can be changed.

I just did this in itunes 7.
You didn't say if you're on a Mac or PC but on the Mac you can also change it from the icon of the iPod that appears on the desktop when you plug it into the sync cable. Click on the icon to select the iPod, then click on the name below the iPod and the name turns into an editable text box.