After dropping The Ringmaster idea, Austin was seeking a persona that would give him a fresh start (more on that in a second). When he finally came up with the idea of an authority-bucking, beer-drinking rebel he still lacked the ring name that'd propel his new image into the forefront of the organization. After pitching it to WWE's Creative Services, he was faxed pages and pages of names that he (rightly) thought were absolutely fucking horrendous.
Some of those names included: "Ivan the Terrible," "Ice Dagger" and a name that would've completely bankrupted the entire company upon its first utterance, "Fang McFrost." By some stroke of luck his wife at the time, Jeannie, was an avid tea drinker and made him some tea saying not to worry about the new name and to “drink his tea before it [got] stone cold.” She then paused and said excitedly “That's your new name, Stone Cold Steve Austin.”
No word on whether or not she ever got a dime for her contribution.