I actually had a "discussion" about this stretching over a few months with an ex-girlfriend of mine. We didn't have any kids, but I got loads of ideas for names. Here are a few of them, and I'll translate them as best I can (seeing as how they're all in Icelandic):
EDIT : in Iceland we don't have last names, so any child of mine would be Steindórsson or Steindórsdóttir (son of Steindór, daughter of Steindór).
Girls' names:
Freyja Líf Steindórsdóttir (Freyja, goddess of love and fertility, Líf = Life)
Iðunn Von Steindórsdóttir (Iðunn, the goddess of youth and keeper of the Æsir's apples, the name literally means "forever young", Von = Hope)
Some others I quite like would be "Laufey" (literal translation : Eternal Leaf, or An Island of Leaves), Folda (literal translation : One who is of the earth or Motherland) and Gersemi (literal translation : Treasure or Treasured One).
Boys' names:
Baldur Dreki Steindórsson (Baldur is the god of light and happiness, Dreki = Dragon)
Höður Galdur Steindórsson (Höður is Baldur's brother, and could be seen as something of a patron saint of the blind, Galdur = a spell, an enchantment, or just magic in general)
Some others I quite like : Fáfnir (son of dwarf king Hreiðmar he became a dragon to guard the cursed gold of Andvari after his brother was murdered), Kveldúlfur (literal translation : Night-wolf or Wolf of the Twilight, he was a famous warrior) and Grettir (a fabled warrior and outlaw in Iceland, reputed to be so strong that stones moved by glaciers all over the country are still called "Grettistak"(Grettir's grip).