Lots of ingenuity and self-depricating humor in most team names. Extra points for clever suggestiveness, double-entendre.
I've run on two different teams, Saturday Night Dead, and Ducks for a Husky-Free Northwest.
Perhaps my favorite was a team whose logo was the iconic Leonardo da Vinci sketch of the male specimen which seems to depict him doing jumping jacks. The genital area was blacked out by anoversized black square. Team name: Hard Middle Leg.
Your nominations?