This project is a great idea: an open-source alternative to Amazon’s proprietary EC2 “elastic cloud” product. I can’t help it though. Every time I see the name I think of a discussion along the lines of:

Person X: I’m worried. This Amazon EC2 sounds like a great solution, but there’s only a single supplier. If they go bust, we’d be up a gum tree.
Person Y: No worries, mate. We’ll just build another gum tree, a Eucalyptus.
Person X: Bonzer!

Read more sensible stuff at Eucalyptus