W.A.S.P. was formed by Blackie Lawless after his band Sister failed. W.A.S.P. is still considered one of the top metal acts to come out of the 80s.
Blackie Lawless was determined to put a band together that would rule the metal world, and he did nothing short of accomplishing that dream. With himself, Randy Piper, Chris Holmes, and Tony Richards, W.A.S.P. was formed.
The name came from Rik Fox, while he was outside where he noticed a wasp buzzing around. He went back inside and presented the name to Blackie, and Blackie would add the periods between the letters as he did not want the band to be named after an insect. To hear more about Rik Fox and W.A.S.P., check out the interview by Razorfist.
Metal Mythos AFTERSHOCK - Interview with Rik Fox (of W.A.S.P. & STEELER)