PlayStation Wonderful
One of my favorite ridiculous PlayStation 2 rumors. Before the name was revealed to actually be PlayStation 2, this rumor stated it was to be called PlayStation Wonderful, and a clip from Eric Clapton's song Wonderful Tonight would be part of the boot sequence.
One doesn't find much other than this very page when doing a Google search for PlayStation Wonderful. But trying so just now, it seems the reason is it was a very small and short-lived rumor, but apparently one that was memorably humorous to me. Gaming-Age reported it, but soon decided it was false and removed it.