Right click on Archive Folders in your Outlook folder list and then select “Properties for Archive Folders” from the pop up menu. The Properties window will open – click the Advanced button on the bottom right hand portion of the General tab (see thumbnail) and the Personal Folders window will open. IN the Name box on the Personal Folders window, type the desired name for the archive folders – in the thumbnail example “Q4 2007 Archive Folders” is used.
Click the OK button both on the Personal Folders window and the Archive Folder Properties window. The name of the Archive Folders in the Outlook folder list should now be the new name you typed.