Steps:

1. Goto Start>Run... type regedit
2. HKEY_CLASSES_ROOT/CLSID/{645FF040-5081-101B-9F08-00AA002F954E}
3. In the right pane you can see the Default String Value
4. Double Click on it and Change the value From Recycle Bin to whatever you want like (Trash Can, Dump, etc.)
   
5. You are done.

If you want to again want your typical Recycle Bin revert the above process.
Hope you will leave some comments...