You can also do a bit of formatting with your slicers.
Click on a slicer that you have created and you will see a new contextual ribbon called Slicer Tools.
From here, you can change the size of a slicer as well as apply a formatting style.
If you look at the far left of the ribbon, you can see Slicer Caption which allows you to change the display name of the slicer.
If you select Slicer Settings you get the following dialog box.
The Slicer Settings dialog box also allows you to change the name of the field or the caption but it also allows you to determine different sorting and filtering parameters.
The other very interesting item on this ribbon is the Pivot Table Connections icon (2nd button on the ribbon). I have not played around a lot with this feature yet but what it allows you to do is share a slicer among different pivot tables. In other words, if you have 3 different pivot tables using the same data, you only need to set the slicer once and connect it so that the one slicer controls all 3 of the pivot tables.
This looks to be a pretty cool feature and should be particularly useful when doing presentations. Have fun playing around with it. I know I plan to.