Wally...or Something Else!

So we have acquired a dog. His name is Wally and he is a great deal of fun. My sister is moving and hasn't had Wally very long. So was looking for a home for him and it was perfect timing for us. We had been searching for the right dog for a while. Something small, has been around children, and at least 2 years old. Wally fits all of those requirements. We like the name Wally, but were thinking we should re-name him (kind of making him our own). I am open to suggestions.