I love teams that have unique and colorful team names.
This started with my first Scrum team. I was new to Scrum. I had just sat through my first training class. It was a training class of around 75 people. There were many teams for a large organization. All of them were new to any type of Agile stuff. I was identified to play the role of a ScrumMaster and was going through all of the in class exercises to support and serve my team. The coach and the VP of Development let us, the ScrumMasters, know that the last thing we needed to do in the class was to facilitate the choosing of a team name. I may be the most forgetful dude on earth. I totally forgot to do this. The next morning all the teams had team names. They were all entered into the software suite that we were using at the time, RallyDev. All of them, except for my team. They were not made aware of what they needed to do. Their ScrumMaster did not let them know. I took on the responsibility and said I would help with it. The VP of Development said that he covered for me and named my team, The Pink Flamingos... I had a team of ladies and gentlemen who were a bit older than me and were all very orderly and hard working. They had a little discomfort with switching to a new way of doing things and a lot of discomfort with being the object of humor for a mistake that was not their fault. It was a long walk across the room to apologize to my team. It was a great bonding experience as they gave me a tough time and sent me back to fix the mistake. We ended up being "The Dingos". Our tagline was "Hide your babies..." This may have been in poor taste with our politically correct society, but it was quite popular and funny at the time.
I have had a lot of teams with awesome names. I love the bond that the name creates. I love team shirts. I love the connection to product and branding of craftsmanship.
Here are some of my other team names: Grizzlies, Honey Badgers, Ninjas, Pirates, Wolfpack, Super Scummers, The Knot, Red Bull.
I totally suggest doing this. It is a blast.