I go to thesaurus.com and try mutilating synonyms of what I want to convey. I mash word combos together, along with substituting similar sounding made up syllables. If you tell me what you're working on and want to convey, I'll take a crack at it. I bet others on here will too. Some examples of my creations (I've only paid a squatter once):
Testomatix: test + automation + "ix" added in for high-tech-soundiness and anti-domain-squatter non-obviousness.
RentRocket: I loved the alliteration, and got it cheap.
Wincognito: (privacy software and pop-up blocker for windows back before they were free) win + incognito
Ziptuck:(fashion site) I have a theory that similar known names "prime" the mind to remember other like names. (Osama, Obama, Paris Hilton, Perez Hilton) and that the other associations of the 'original name' disappear quickly, so I went with it.