I’m actually developing a pen-n-paper rpg based around a Harry-Potter-like setting, and I had fun coming up with names for things. A lot of fun.
I eventually settled on Swinemole Wizardry Academy for the main setting. (Hog - warts : Swine - Mole. You get it, because Hog means… uhh, nevermind)
So, what’s your wizarding setting. There’s no rule, except the funnier the better.
I noticed long ago that “Drosophila” would make a great name for an evil witch, and “Melanogaster” would make a likewise great name for the ancient wizard who opposes her.
Shouldn’t it be the other way around? “Dew Lover” sounds more like a good fairy, and “Black Belly” an evil one.
We have a game we play while driving to gaming conventions – make up names for characters based on the exit signs on the highway, and decide which genre the newly-named character best fits. This works particularly well using signs for exits in the middle of nowhere, on which two nearby towns are listed (thus giving you a first name and last name).
My wife now plays a D&D paladin whose name came from a sign on a highway exit near Baltimore: “Halethorpe Arbutus”.
There is an exit sign on I-65, in north-central Indiana, which gave birth to the name of a Call of Cthulhu character: Wolcott Remington (or Remington Wolcott, depending on if you’re northbound or southbound on I-65 
).
Jon Stewart pointed out a name in the news that sounds just like a Harry Potter bad guy: Newt Gingrich.
This name generator is actually pretty good.
Anthony Wagtail
Alonso Ridgebit
Quinton Blechley
Silenus(!) Delaney
That obviously depends on how good your grasp of Greek is.
The Spanish Wizard, Don Sabado Domingo Lunes y Martes de Semana, Headmaster of La Casa del Puerco Verrugado.
We were discussing the fact that some people in the Potterverse have foreshadowing in their names. For example, did Mr. and Mrs. Lupin not consider that the karmic naming laws of the Potterverse gave their family a very high probability of becoming werewolves? For that matter, I have to assume Fenrir Greyback is a nom du guerre, otherwise the Greyback family have a hell of a lot to answer for.
So, in that vein, a female werewolf in Griffendor - Lycanthropia Timmons.
Diesel Fueldoor the Crude!
Abra-clive-davra
He also once said (paraphrased) Wolf Blitzer was a wand and cape away from being Headmaster of Hogwarts.
I wanted a name for a wizard that sounded like it came from Renaissance Italy - Antini Briollo.
Ergo the Magnificent, Short in Stature, Tall in Power, Narrow of Purpose, and Wide of Vision.