(An Unofficial) Python FAQ Wiki

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Why is it called Python?

At the same time he began implementing Python, Guido van Rossum was also reading the published scripts from "Monty Python's Flying Circus" (a BBC comedy series from the seventies, in the unlikely case you didn't know). It occurred to him that he needed a name that was short, unique, and slightly mysterious, so he decided to call the language Python.

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"The most important thing in the programming language is the name. A language will not succeed without a good name. I have recently invented a very good name and now I am looking for a suitable language." -- Donald Knuth