I'm not sure that Belerophon to Billy Ruffian is 'The folk process'.
It has been recorded (can't remember where I read it) that many sailors (without the benefit of a "Classical" education) had problems with Ships' names, which were often either "Classical" or, in the case of captured ships "bought into service", foreign; and so they "translated" them into phrases that they could easily shout and understand as rallying cries in the heat of action, thus:-

Belloerophon - Billy Ruffian
Aggememnon   - Eggs and Bacon
Furieuse    - Furry Arse

Regards

W