I'd have to say, my favorite alliance name (outside of KHAL DROGO) would be Deez Nutz.... It's a name after my own heart lol. I find the humor in the name to be crude & hilarious. Unfortunately, they've only got 2 noob members, which are most likely inactive.
I'd have to say, there is an extremely long list of horrible alliance names. The ones that take the cake for me would be, WWE Raw 1000, Punichers (bad name, plus I'm pretty sure they misspelled Punishers), HAD Round 2 (HAD had a terrible first round, go with a new name), Minecraft Defenders, & Lozer (why even bother making an alliance with this name?).