Small changes like changing a variant name can be done by following simple steps as below.
- Go To “Inventory Overview” to open item list

- Go to “Inventory Overview” where all your products are listed and click on the product whose variant you wish to modify

- Click on the variant name and its details will be opened in a pop up

- Click on “Types” tab that will open all the available option types and change its respective values that you’d like to have

- Once the changes have been made click on “Save Changes” to finalize your changes.