Renaming and deleting both live in the same right-click menu. Deleting is safe — items go to the trash first, not straight out of existence.
Steps
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Right-click the folder or document in the Document Tree.
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Choose Rename to edit the name in place, then press Enter. Or choose Delete to send it to the trash.

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If you chose Delete, confirm the message. Deleting a folder deletes everything inside it, and the message tells you how many items that is. After deleting, a message appears for a few seconds with a Restore button. That is the quickest way to undo a mistake.

Rename You can also rename the folder you are viewing using the pencil icon next to its name.
Tip: A locked document cannot be deleted. Unlock it first.