I generally make up a name based on all & sundry things, like:
look of the bars (Lady Camo, - a discoloring FO altered colors to look like pink & brown camouflage),
location where I made the soap (Hotel such & such, name of city),
a specific event (I named a soap after Hurricane Irma, which disrupted our travel plans),
whimsical naming (Sisterhood of the Traveling soap, because the indigo reminded me of the movie),
suggestions from granddaughter (Jungle Book, because the colors & fragrance suggested that to her),
the kind of soap it is (Marbled Castile),
color of the soap (Deep Purple),
how it was made or ingredient related (Luscious Lavender, because of the luxurious oils),
the purpose of the soap (Blacksmith soap, because I make it for my blacksmith brother to clean his hands),
a person or place of memory (Dad's Flagstone Patio soap, because I made a mosaic soap to look the flagstone patio my dad built),
and more,
or a combination thereof (Purple Piggy, because it was purple soap made with lard).
There are some soaps where the fragrance plays a part of the name, but it's usually in combination with another factor, like color or design or shape.
For example, Dragon's Egg (soap in Easter Egg shapes that were discolored by Dragon's Blood FO)