I recently provisioned a Virtual Machine in a KVM Hypervisor with a typo in the name. Even worse I also created the storage LV with a typo. Here is how I fixed it. Off course shut the VM down first.
LV Rename
# lvrename VolumeGroup oldLVname newLVname
Renamed "oldLVname" to "newLVname" in volume group "VolumeGroup"