sp_rename is a system stored procedure that can rename objects. This procedure should be used with caution however, because when renaming an object that is referenced by other objects, will not update the name in the object reference. It is also a better practice to drop and recreate objects rather than using this procedure.
That being said, sp_rename can rename a number of object types. These object types are passed as parameters to the sp_rename function.
'dbo.Orders' -- Existing Table including Schema Name
,'OrderDetails' -- New Table Name
,'Object' -- Use Object designation for a table
-- Change the name of a column
'dbo.Orders.OrderAmount', -- Fully Qualified column name
'OrderTotal', -- New column name
'COLUMN' -- Object Type
-- Change the name of an index
'dbo.Orders.PK__Orders__C3905BAF6A30C649', -- Fully Qualified index name
'IDX_PK_C_OrderID', -- New index name
'INDEX' -- Object Type