Hehe yeah. I chose Charles because it sounds pretty standard, yet dignified, and Elton from Elton John, because it sounds so sophisticated. Plus Underdunk, which is his mother's maiden name. Long names always strike me as upper class. ^__^
I'd guess it's because it's such a fancy-looking machine whose shape vaguely resembles that of an airboat. Elton John used to be very flamboyant early in his singing career, with giant diamond-studded glasses and such.