I had a school teacher many moons ago and he told us once that he and his wife chose their childrens names specifically for the initials - one was ELF I remember and I thought that was cool. It's never really been an issue for us so long as it was never offensive. The only thing we didn't want was a V name or otherwise they would have a VB initial LOL - and we didn't want anyone to think we were bogans hehe.