Whenever you create a folder, your iPad will automatically name the folder depending on the apps’ App Store categories. Sometimes, however, you may not like the given name and want to change it. To rename a folder, just hold down any app (as you would if you were to delete an app) and touch the folder icon. You should be able to change the name to whatever you want now. To save the name, press the home button.
Have fun with your iPad!