I change my team's name every year. I guess I just have too many ideas (not they're all that great, mind you) and with typically a different roster, each team has its own identity. I've gone for all types, the movie references, local geographic references, campiness, etc.
Some samples from the past:
Buffalo Stampede (I'm a proud Buffalonian)
San Diego Surf (Eddie Vedder thought up the lyrics to several songs on the "Ten" album while surfing off the coast of SD)
Mos Eisley Scum and Villainy (nod to Star Wars)
Holy Hand Grendades of Antioch (nod to funniest movie of all time)
Black Mesa Resonance Cascades (nod to best video game ever, Half-Life)
This year I've got:
Nassau Sharks (named after my street address and favorite animal)
Cool New People (goofy MySpace reference)
Last year I played in a league with a guy who named his team "Superdome Rape Victims"
... yeah, I guess there's something to be said for tact and good taste in your name as well.