It is very similiar to the Linode Label and Linode Group.

I would adding a Linode Description to the settings section and display the linode Description along side the servers that are owned.
It can even be maxed capped at 100 or 150 char for simplicity.

This is particularly useful when you have multiple servers and need a quick way of distinguishing certain attributes of it.

For instance, I need to upgrade one of my servers to run a newer version, I can add it there instead of changing the name.
Or, one of my servers is still on 12.04 vs everyone else is 14.04 etc

We could do things like:
Linode Group: Production
Linode Label: ProductionServer1
Linode Description: 12.04 LTS (upgrade me)

Linode Group: Production
Linode Label: ProductionServer2
Linode Description: 14.04 LTS,

Further uses

1. Instead of spinning up a new server, you added a small project to an existing one, you can make a note of it here.
2. Additional things you put on this server, for instance it's running Kafka and Redis, vs all the others who are just Kafka
etc