I had only one Schema called "Test". It shows up in Dashboard next to DB Name (in yellow in the image below):

I added another Schema to my instance via MySQLWorkbench, lets say its called "NewDB".
How do I change the DB Name to my new Schema, "NewDB", in my Dashboard?
You cannot modify it once you launch RDS instance.
If you really want to change it, then take a snapshot of your instance & create new instance with that snapshot for your required DB name.
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