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static extern bool SetVolumeLabel(string lpRootPathName, string lpVolumeName);

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Private Shared Function SetVolumeLabel(ByVal lpRootPathName As String, ByVal lpVolumeName As String) As Boolean

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        static extern bool SetVolumeLabel(string lpRootPathName, string lpVolumeName);

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            if(SetVolumeLabel("C:\\","PInvokeC Drive"))

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    Private Function SetVolumeLabel(ByVal lpRootPathName As String, ByVal lpVolumeName As String) As Boolean

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            If Not SetVolumeLabel(DrivePath, value) Then Throw New Win32Exception(Marshal.GetLastWin32Error())

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Documentation

[SetVolumeLabel] on MSDN