When I played OLs I always liked to come up with history related team names: Sherman's March, X'ian Warriors, The 10,000 Immortals, Agincourt Longbowmen, etc.
All-Time favorite though was "Beat George W. Bush" Team was composed of entirely Georges, Walkers, and Bushes (with one Cheyney and one Oyler. Team went 0-162. Mission Accomplished. Most fun $10 I've ever spent. Towards the end some tried to foil my plan, without success.