Flipster is an Xposed module which allows you to change the app icon and name according to your needs. And these changes will appear system-wide. You can also change all the icons and colors inside an app!

3rd party launchers are not supported at the moment.
Only works properly in stock AOSP/ Google Now launcher and Samsung TouchWiz launcher.

For more info, please visit the XDA thread - https://bit.ly/FlipXDA

For any suggestions/ queries, please send an email or post on XDA thread. I shall respond ASAP.