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I see I'm not the only one who wants this. I have multiple cards with the same bank, and the specific reason I only use one of them with PayPal is that it lacks a card nickname feature. I'd probably use the service more if I could nickname them.
I have two bank accounts linked to my PayPal account that are nearly identical (same bank and same number except for one digit) and it can get very confusing. Is there a way to change the names of the linked accounts? Some searching seems to indicate that you used to be able to, but not anymore. PayPal, I would love to be able to give my accounts and cards aliases for ease of use!