Ok so I know i'm prob. in the wrong forum but oh well.  I've never created a theme league nor do I really know how it would work but here's 

It would be somewhere between 100M or 140M (I like 100m the best)
DH/AAA/NO INJURIES 16TEAM/4PLAY 

Common American Names
Listed are the 15 most common first names and 15 most common last names I found off of an American Census.   Draft all players who either has a first name listed or last name listed.

First Names:
James(Jim)--John/Jon--Robert(Rob)(Roberto)--Michael(Mike)--William(Will)--David(Dave)--Richard(Rich)(Richie)--Charles-Joseph(Joe)--Thomas(Tom)--Christopher(Chris)--Daniel(Dan)--Paul-Mark--Donald(Don).

Last Names:
Smith--Johnson--Williams--Jones--Brown--Davis--Miller--Wilson--Moore--Taylor--Wilson--Anderson--Thomas--Jackson--White--Harris

What do you guys think?

If you're looking for feedback on the idea (will it work, is it interesting, what are the flaws) then this is the right place to post. 

If you're looking for sign-ups then you want the Theme League classifieds.

Assuming the former... a couple of things.

It's tough to fill theme leagues right now, even for experienced owners. For better or worse, some owners are hesitant to join theme leagues started by a newbie. So you might want to play in a few first, get your name out and get a feel for who runs a league well and how they do it.

Having said that,it's a solid idea. I think you'd get some variety in teams at 100mil. Probably less so at 140mil. I assume you wouldn't allow clones (so only one Walter Johnson).It doesn't really strike me as the most unique idea I've ever seen but it's still interesting. 

Also, a lot of people don't like 16 team leagues. If you can't fill it at 24 then some people might settle, but why start with a goal of 16?

By the way, I'm not trying to be harsh, so I apologize if it comes off that way. Just trying to help.

You should take a look at biglenr's thread (stickied at the top of the forum) called "advice for newer theme league creators" - there is some good info in there.
  

My suggestion would be to provide a little more clarity on what counts for acceptable variations on names.  Certainly part of that would include alternate spellings (Robb? Jhonny?), but also since you specifically mention "Roberto" as an alternate for Rob/Robert, what about Juan as an alternate for John?  Miguel?  Carlos?  you get the idea.  I assume you wouldn't allow alternate spellings on last names (Smith/Smyth eg), but again, it is something I, for one, would want to have made clear before considering such a league.