I also tend to name them based on whatever I think suits them. No real theme, except that they're sometimes my favourite names.
I've used some names of singers I like too, actually.

I'm usually picking the first name I'm thinking about that kinda fits the image I have of this particular Knuffel.

It's usually about things I'm watching or reading at the moment.

I like to pick japanese names (well consequences of me being otaku)

LadyCatherine wrote:I usually look at the Knuffel and try to choose a name that fits.

Same. It's pretty random in my case, but I'm usually satisfied with a result.

When nothing comes to my mind, I browse the web, until I find something that I think may suit. Or until something comes - it happens too.

I usually just give my Knuffels a name that suits them (Dawn for a Light Knuffel, Ocean for a Water Knuffel). It's unoriginal, but it works for me.
I do have a mule called Titania, she only has event Knuffels and I've named them after Titania's fairy helpers from 'A Midsummer Night's Dream' ^^

I've been going off of their element or design so far. I might get more random later on, but I really have no idea. xD

Sometimes I name them based on what the names mean and how they relate to the knuffel, but other times I just go with the first thing that pops into my head.

At first, I had a naming pattern for them. All their names would start with K, and usually the word I chose had meaning that I felt suited the knuffel (element related, colour, theme or so on). I did this with my first three or so without thinking, but then someone pointed it out and I decided to try and keep it that way. XD But I started to run out of K names/words and then wild knuffel came out, so now I just name them whatever comes to mind first. xD;