according to Windows95 FAQ's
1. go to Start button
2. choose "Run"
3. type in REGEDIT
4. from the Edit menu, choose "Find"
5. type in Recycle Bin and hit the Enter key
6. the right window should have "Default" highlighted, double click this highlighted "Default"
7.under "Value Data" there will be a directory to the recycle bin icon. You will need to type in a new directory to the new icon you wish to use. (i.e. "C:\Windows\Desktop\icons\heart full.ico,0") Also set the directories for "Empty" and "Full" which are listed under "Default"
8. be sure to put a comma and a number value after the file name. 0=1st, 1=2nd, 2=3rd, and so on.
9. close REGEDIT window.
If you need more information about this, please download Reg95, a Windows95 Registry Editor FAQ. It can be found Here.for Free! (a rocketdownload.com page)