I would say it is essential to have something in the name which identifies clearly WHERE the festival is taking place (i.e. tells people which town/city/whatever). Once you have identified your location, then add something either informative and/or silly.
Remember Beer Drinkers do not necessarily require something which taxes the brain.
For many years I was involved with Bradford Beer Festival (Yorkshire, England). That was what it was called. Easy to understand.
Once that principle was established, we changed our theme for atrwork/t-shirt design/posters etc. each year, and added the theme to our festival name in some way.
Here is a blue Clicky to lists of UK Beer Festivals CAMRA - the CAMpaign for Real Ale. In some cases the name or nickname of the place would suggests the beerfest name, but often there isn't a good alternative.
Quack!
Geoff the Duck.