When I make up names for my hacked Pokémon, I usually take a few words, that's got something to do with the Pokémon, I've "created", in one way or another. To give a few examples:
"Dolphreeze", a dual-type Water/Ice Pokémon based on a dolphin. (Dolphin + Freeze)
"Chimtsu", a dual-type Normal/Fighting Pokémon based on a Chimpanzee. (Chimpanzee + Ninjutsu)
"Canbur", a Fire-type Pokémon based on a candle. (Candle + Burn)
"Psyclord", a dual-type Ghost/Psychic Pokémon based on a sort of cyclops. (Psychic + Cyclops + Lord)