Add ablity to name list items when creating content for a model

Currently when you create a model and add a list item you can name the list item with some name that will be applied to each item: adding a list named groups with a list items group will name each one group 1, group 2, group 3. It would be useful to allow the ability to name them when creating the content for the model to help know what is what in the visual editior. That is group 1 could be renamed to "Men" group 2 could be "Women" and group 3 named "Featured"