First things first!
Go to your iPhone's home screen, so that we can navigate to the Settings app. More often than not, the Settings app is located in the "utilities" folder. Once you find Settings, give it a click.
Now that you have opened the Settings app, we need to navigate to general settings. Simply click "general," and move on to the next step!
In general, select the "about" option, so that we can get to your iPhone name and make that change!
You'll notice the default name "iPhone" showing to the right of name. Give it a click and let's name it something a little more relevant.
The keyboard will automatically pop up so that you can change the iPhone name to an iPhone name that makes sense for you and that can be differentiated from others. I recommend just using your name followed by "iPhone" like I did with mine. Once you have typed in your name of choice, tap "done."
Tada! Done. Your iPhone name has changed now! Did you know you can change your Bluetooth name on your iPhone also? Give it a try.