My supervisor and I usually have a friendly competition on who can come up with the most ridiculous band names that aren't in existence. I usually resort to medical terminology. Some of these may have actually been used but its all in good fun.
Post Nasal Drip (I use this for my Guitar Hero profile)
The Fat Cardiologists
Perirectal Abscess
Anal Fissure
Perineum
Encephalitis
Duodenum
What are some you'd like to see?
growing up, my friends and i recorded some pretty weird/lame music. a few of the band names that we/they used were bad day suit, strange white slab, dreamstalker, scuzzy pillow, etc. also, a friend of ours who never recorded anything with us, or played any instruments whatsoever was always wanting to have a band called phantom fisticuffs.
For a rap group how about Suburban White Boys.
Here's a good rock name CrunchnMunch.