Hunter, Palico, and Palamute names cannot be changed.
You cannot change your character’s name after confirming it at the creation screen. This also goes for the name of your Palico and Palamute.
On the other hand, you can freely change the appearance of your character, Palico, and Palamute even after confirming it at the creation screen.
Equipment crafted at the smithy cannot be reverted back to materials.
Weapons and armor forged using materials cannot be undone. The same also applies for weapons forged through upgrading. Be sure to decide carefully which equipment you need before crafting them, especially for weapons and armor that require very rare monster materials.
Items made through crafting cannot be undone.
As with weapons and armor, consumable items cannot be reverted back to materials. While making a mistake is less costly than with forged equipment, it is nevertheless important to be mindful of which items you actually need for the efficiency.