Windows 7 Navigation Pane Customizer is a freeware from door2windows that allows you to show, hide and rename items in the Windows Explorer navigation pane.
Apps from door2windows are truly free and DON'T include any offers to install 3rd-party apps/adware/toolbars/unwanted software and never will. The apps are portable and don't require installation.
Download door2windows App Bundledoor2windows App Bundle gives you access to all the latest apps released by door2windows in one download (along with future updates).
How to use:
Run the tool as administrator.
Check the items that you want to show and uncheck the items that you want to hide.
Click on the item that you want to rename and type the new name for it.
Click Apply Settings.
Now the Windows Explorer will restart and the changes will be applied. If you want to restore the default settings, click Restore Settings.