A while back, I was curious about this too...so what did I do? I asked Ligapelota. He told me that Wade Boggs is his favorite player. When he drafts a team he will include another player in the team name, such as: Domincan Boggs Or Don Mattingly?" The player he is including in the team name, in this case Mattingly, is another player he drafted for that particular team.
Three other superb players who play this game also have similar team naming structures...Skunk and Waitnsee and Dougpalm. Skunk always begins his team names with MXC. Then the rest of the team name follows. I also asked him about this a long while back. He told me that MXC stood for a show he and his brother used to watch. I remember watching the show myself but I cannot for the life of me remember the name of it. It was an Asian show where there were contestants who were put through a bizarre physical obstacle--the obstacle being different each week. I'm sure someone will remember the show and remind me what the name is.
Waitnsee's team names are much more easy but they always follow a similar format. Basically he lists the salary cap and then something to do with the particular theme league, such as $100 Mil Clone Pitchers League. Seems pretty reasonable to me...reminds himself of what league he is checking out.
Dougpalm seemingly has a number of team names that he continually uses. The teams usually involve a particular small city and then the team name. A few of the ones I recall that he uses are Dillon Magpies and Montpelier Mountaineers. He has more I just can't think of them right now.
If I ever get to be as good as these guys I'll start naming my teams in a more consistent manner. But I don't know if I'll last that long on this site.
I'm sure others have noticed this before too. And now for the conspiracy theories that this is just one guy playing multiple "roles" in the sim community. I don't believe in that whatsoever...but I'll be amused by what follows I'm sure. :-)