All the following are genuine UK band names from 1989 as stolen from the
Making Music freebee magazine (incidentally probably the best magazine
of its kind available here in Britain).

Cheesy Hood And The Precautions
Bob is 32
Gang Green
Pink Volkswagen
And The Cow Went Yech
Psycho's Mum
Cosmic Orgasms
Cranial Cheesecake
Turbo Slag
Projectile Vomit
A Fridge Too Far
Son of God's Mate
Hairy Canary
Shit With Eggs On
Dang Wam Sam
Eddie Shit
Haddock Fish Beast
14 Iced Bears
Brief Case Full Of Slugs
Nel Mangle Versus The Robinsons
Emma Gibbs Loves Badgers
Donkey's Scrotum
Blue Bum Snoggers
The Marauding Mutant Headbangers From Hell
Door Marked Summer
Throd
Rancid Hell Spawn
Polished Electric Head
Shit - Only Ten Minutes to Get to Ledbury
Indigo Plankton-Motus
Ned The Sponge
Mad And Bonkers
Fat
Fat And Frantic
Poodle Whumpies
Foul Language And The Chicken Shits
Aardvark And The Swinging Testicles
Toggle And The Dufflecoats
Billie Bowel And The Movements
Richard Brown And The House Of The Tragic Poet
Randolph Silage Pit And His Exploding Hamster
Dr Foulbreath And The Molten Medicine Show
Bongo Sherbert And The Electrified Yeti Wobblers
God And The Crazy Lesbians From Hell
Joe The Crow And The Birdseeds
Invasion Of The Lego Men (one of my old bands)

Other band names:

Oedipus and the Mother Superiors
Things that Aren't Food
Painful Discharge
Dr. Lust  (with umlaats over the u -- it's the name of the head of the European
		space agency)
Pat and the Snow Kangaroos
Plate O'Shrimp
To Be Announced

...And the official new-music mailing list band-names suggestion list:

[ Heavily edited for brevity]

Shelf Life 
Plain Trash
Trash Alert
Fast Arching
Arching Over
High Speed Dirt
Men, Barely Alive
Neon Rosebush
Rabbit Hype
Sucrated Protonized Oxygen
Handguns for the Homeless 
Hellish Ultimate Horror
Honey Roast Spam
No Felching
Mind Control Division
Mold Growth
Office Beverage Product
the Great Satan
Nothin' Too Wild
Trash with Class
Butt Ugly Vermin
Tipper Gore On Acid
Tabloid Lynch Mob
The Duke Was A Homo
Dying On Our Feet
Tee Vee Gospel Hour
Metal In Your Face
Satan On Special
Uzis For Kids
Dan Quayle's Latin Class
Red Hot Punksters Housewives In Heat
Intentionally Uninspired
Grendel's Brother
The Slobber Dogs
Hey Zeus and the Curbfeelers
Zen Dog and the Medium Size Bones
Inexplicable Answers