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You will need to rename your older variations that use the name "Character" if you want to edit anything in those listings. Since "Rename" is not an editing option, you will need to actually replace the old name with the new name.
You can manually rename directly on the listing form, or you can bulk edit with a spreadsheet.
1) This post describes the manual method, where you can download a report that contains the price, quantity, and sku for your listings. You can use your downloaded report as reference, during the manual revision.
Then, to manually rename your variation group, add the new name on the listing form. Drag/drop the old list of variation options to the new name. Delete the old name after all of the characters have been copied to the new group name. This will rebuild your combinations, where you will need to add back the quantity, price, and sku from your archival list.
Fortunately, the photos will remain attached as long as the characters in your list keep the same names.
2) The automated method is to use the Variation Scanner to retrieve your variation listings so that you can enter the old and new group names for the automated "rename" process.
https://www.isdntek.com/ebaytools/VariationScanner.htm
With the appropriate options selected, the tool will create a spreadsheet that you can download to your computer and upload to Seller Hub as a bulk revision. Help with the process can be found on this thread, where card sellers are having a similar problem with the variation name.
With a bulk revision, your out-of-stock variations will be purged unless you have the out-of-stock feature turn on in your account settings.
