In previous version of VMware Player the NAT and the “Host only” network settings could be change by vmnetcfg.exe.
Since VMware Player 5 this tools is no longer a part of the installation, but vmnetui.dll is available. You can start the virtual network editor using the Windows rundll32.exe.
Open a command line and change to the VMWare Player installation directory. This command bring the virtual network editor back:
rundll32.exe vmnetui.dll VMNetUI_ShowStandalone