A friend, who is also a Dominican Brother, has written an excellent article on the power of the Holy Name.
The power of a name is one of the many lessons which my father taught me through example. He is fond of giving nicknames to anyone and any pet who he saw frequently. My aunt and uncle seemed to think that my father's naming of their new dogs was nearly as important as the baptism of their children. They waited eagerly for my Dad's pronouncement of Chester as, "Chester the Molester" or Clancy as, "Clance-dog." Dad also created nicknames for his sons, "Pasta and Chi-chi bean." To this day, we never found out which one of us was which so I guess it is a collective nickname. Dad called my wife's bunny rabbit, "Silver" for about 2 minutes, henceforth he is referred to as, "Hi Ho." (Say them together.) Dad makes special names to match the special relationships he has, and continues to mete out special relationships generously. Although, I think he is most fond for his own special name, "Pop."
Interestingly enough, Br. Peter has a special nickname which was not assigned by my father but by the Newman Club at Penn State. I couldn't get through a post on names without mentioning "JoeFromErie."