In DESIGN component of lightning component bundle (you can press Ctrl + Shift + 7)
add the label attribute like
<design:component label="Some Another Label">
</design:component>
For custom icon, you need to add the svg code in SVG component (Ctrl + Shift + 8), like one sample which you can copy-paste and try:
<?xml version="1.0" encoding="UTF-8" standalone="no"?>
<svg width="96px" height="97px" viewBox="0 0 96 97" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<!-- Generator: Sketch 39.1 (31720) - http://www.bohemiancoding.com/sketch -->
<title>image</title>
<desc>Created with Sketch.</desc>
<defs></defs>
<g id="Page-1" stroke="none" stroke-width="1" fill="none" fill-rule="evenodd">
<g id="image" fill="#54698D">
<g id="Layer_1_copy_2">
<path d="M95.5238095,10.126294 C95.5238095,4.95031056 91.6628057,0.80952381 87.3728014,0.80952381 L8.43672244,0.80952381 C4.14671815,0.80952381 0.285714286,4.95031056 0.285714286,10.126294 L0.285714286,86.7308489 C0.285714286,91.9068323 4.14671815,96.047619 8.43672244,96.047619 L87.3728014,96.047619 C91.6628057,96.047619 95.5238095,91.9068323 95.5238095,86.7308489 L95.5238095,10.126294 L95.5238095,10.126294 Z M78.3809524,75.5714286 L14.5714286,75.5714286 C11.7142857,75.5714286 10.2857143,72.7142857 11.7142857,70.8095238 L31.2380952,37 C31.7142857,35.5714286 34.0952381,35.5714286 34.5714286,37 L46.4761905,57 C47.4285714,58.4285714 49.3333333,58.4285714 50.2857143,57.4761905 L59.8095238,43.6666667 C60.2857143,42.2380952 62.6666667,42.2380952 63.1428571,43.6666667 L80.7619048,71.2857143 C82.1904762,73.1904762 80.7619048,75.5714286 78.3809524,75.5714286 L78.3809524,75.5714286 Z M72.6666667,36.047619 C67.9047619,36.047619 63.6190476,32.2380952 63.6190476,27.4761905 C63.6190476,22.7142857 67.9047619,18.4285714 72.6666667,18.4285714 C77.4285714,18.4285714 81.2380952,22.7142857 81.2380952,27.4761905 C81.2380952,32.2380952 77.4285714,36.047619 72.6666667,36.047619 L72.6666667,36.047619 Z" id="Shape"></path>
</g>
</g>
</g>
</svg>