How to change the icon of default libraries in Windows 8.1

In Windows 8, one of new features was an option to change the icon of a library. For some reason, Microsoft has restricted this option only to custom libraries, which were created by the user. For built-in Libraries, the icon cannot be changed from the Windows interface on Windows 8, nor on Windows 7.

Today, we will look at how to change the icon of any library, including the predefined/system libraries. The method I will cover is applicable to Windows 7 and Windows 8/8.1, but I will use Windows 8.1.