Sorry to resurrect this old thread...
Just wanted to say that there are some wild Japanese band names that rival some of the ones previously listed.
The following, which I'm not making up, is a VERY short list of groups that were or are currently playing:
Doping Panda
Thee Michelle Gun Elephant
Bump of Chicken
Funk the Peanuts
Pink Lady
Finger Five (a copy of the Jackson Five)
Love Psychedelic Orchestra (Love Psychedlico for short)
Zutorubee (Japanese pronunciation of the reverse of "Beatles")