The very first band I was in was called $hit. Our whole reasoning for the name was we wanted people to hear it and say "Hey that sounds like $hit!
other band names I have come up with that never made the final cut were..
Manson Family Picnic
Tampon Tea Tastes Terrible
3 Fat Dudes
3 Fat Dudes and a Hot Chick
Immigrant Schlong ( A naked Led Zeppelin Experience)
Misery Loves Company
Red Sun Rising ( taken years later by a signed band)