My little girl's name is "Honey Magoo". A lot of people ask us where we got that name. When we were dating, we used to go to a restaurant all the time called "Magoo's" (like the cartoon character with the thick glasses) and they had the best chicken fingers and honey mustard sauce and that was what we always ordered. It seems kind of silly but that's how we got "Honey Magoo". I like that her name is representative of something special to us - plus it makes a great story! She reminds us of how long we've been together and makes us think of "back in the day".
I don't think you should name your boy Honey Magoo, but I think a name that means something or has a story is best...
Also - when I was growing up, we got a mini-poodle. No one could agree on what the name should be. So we wrote down all the names on pieces of paper and wadded them up and then placed them in a line on the opposite side of the room. We let him go and he "picked" which name he wanted - it was the first piece he touched/sniffed at. The winner was actually the name I had chosen, "Petey". And it fit!