Bring all your bandmates together and have a brainstorming session. Hand around a notebook and have each jot down a name suggestion or even a word or phrase they like. Try combining suggestions from various band members to form new combinations. Discuss which seem catchiest, most original and most evocative of the type of band you are.
Decide upon a deadline. Create a date by which you will have decided upon a name and stick to it. Try walking around with a small notebook at all times and encourage band members to do the same, so you can all be ready when and if inspiration strikes. Write down cool band names that occur to you during this brainstorming period. Schedule another meeting a few days before your agreed-upon deadline. Discuss all the new ideas you have and weed out as many band names as possible.
Do not succumb to the temptation to use one of the many band name generators you can find online; these use a limited database and are better for entertainment rather than practical purposes. Be aware that these name generators are unable to guarantee that the name you find through them is already not in use.
Be aware there are some words which are overused in band names to the point of becoming redundant. Visit, "10 Words that Will Make Your Band Name Suck," and make sure you have not used any of the words listed.
Select the two or three best band names you have all come up with. Ensure the originality of your favorite names by running them through a Google search and making certain they are not already in use. Also, use Google to assess the searchability of your selected top names; you'll want a name that easily can be found.
Decide upon the name which you all like best and which also is original. Congratulate yourselves on having selected an original band name and start practicing for your upcoming gigs.