Answer #1

        //The command
        if(commandLabel.equalsIgnoreCase("rename")){

            //Only works if the player type the name
            if(args.length == 1){

                //Item at player's hand
                ItemStack item = player.getItemInHand();



                //Cheking if he has a item at his hand
                if(item.getType() != Material.AIR){

                //Getting the name that he typed and add the color too
                String name = ChatColor.translateAlternateColorCodes('&', args[0]);

                //Getting the itemdata from the item
                ItemMeta meta = item.getItemMeta();

                //Setting the item's name to the name that the player typed
                meta.setDisplayName(name);
                //Setting the ItemData to the item
                item.setItemMeta(meta);
                //Update the player's inventory
                player.updateInventory();


                //Send a message if everything goes right (if you dont want taht just delete it)
                player.sendMessage(ChatColor.GREEN + "Item renamed to: " + ChatColor.YELLOW + name);


                //DONE
                }
            }

        }