Rhode Island is well known for many things. It is famous for it being the only state with a long name: The State Of Rhode Island and Providence Plantations.Also, coffee milk was invented here, or made here. Rhode Island is well known for its lemonade, Dells.Providence has the oldest open mall.t is famous for it being the only state with a long name: The State Of Rhode Island and Providence Plantations. Also, coffee milk was invented here, or made here. Rhode Island is well known for its lemonade, Dells.