The correct answer is option (b): Square root of 4x^2.
The standard deviation of a random variable Y is the square root of its variance. In this case, the variance of Y is given as 4x^2. Taking the square root of 4x^2, we get the standard deviation of Y as 2x.
Therefore, the correct answer is the square root of 4x^2, which is the standard deviation of Y.