@kylecage0 ...
There is no built-in way within the Canvas interface to change the names or add/remove options. I don't even know if there would be a way to program this with custom code on the admin side of Canvas to change these names. Keep in mind that if you start changing these names, then the custom names you have will not match with the official Canvas Guides that you can find here in the Canvas Community. So, you might be creating some confusion for people looking for documentation that is different than what you've done to customize your courses. See the section on "Select Submission Type" in this Guide as an example:
How do I add or edit details in an assignment? - Instructure Community (canvaslms.com)
Also, if there was a way to add this via custom code, it's going to affect every single course in your Canvas environment...not just one course. Some instructors might like this change...while others may not. So, you need to keep all of this in mind by making a change like this.
Hope this will help a bit.