So this idea is basically like the 'Mob Info HUD' (where it shows mob and player information like health, armor points, equipped item etc.) but instead when this module is toggled on, items on the ground will display their names in the world itself above the item (stacked items could have something like x# ~ e.g. x7 to indicate it is a pile of 7 items).

Maybe there can be 4 settings:
All ~ It will display the names of all items
Custom Name ~ It will only show the names of items that have a custom name in the world (Default)
Render distance ~ The distance of rendering the names (the names will not render through opaque walls)
Looking ~ Whether the name only renders when looking withing a certain range of the item or not.

It could be cool/useful if there is also a button for a blacklist, and it can be toggled on or off (there could maybe also be a button that can turn it into a whitelist). Lastly, there can be a standard button that opens a GUI to enter entries for blacklisted/whitelisted items, in the format of modID:name:meta, (e.g. minecraft:wool:0).