According to Wikipedia:
The root of the name Oscar is contested. One biography of Bette Davis claims that she named the Oscar after her first husband, band leader Harmon Oscar Nelson; one of the earliest mentions in print of the term Oscar dates back to a Time magazine article about the 1934 6th Academy Awards and to Bette Davis's receipt of the award in 1936. Walt Disney is also quoted as thanking the Academy for his Oscar as early as 1932. Another claimed origin is that the Academy's Executive Secretary, Margaret Herrick, first saw the award in 1931 and made reference to the statuette's reminding her of her "Uncle Oscar" (a nickname for her cousin Oscar Pierce). Columnist Sidney Skolsky was present during Herrick's naming and seized the name in his byline, "Employees have affectionately dubbed their famous statuette 'Oscar'". The trophy was officially dubbed the "Oscar" in 1939 by the Academy of Motion Pictures Arts and Sciences. Another legend reports that the Norwegian-American Eleanor Lilleberg, executive secretary to Louis B. Mayer, saw the first statuette and exclaimed, "It looks like King Oscar II!". At the end of the day she asked, "What should we do with Oscar, put him in the vault?" and the name stuck.
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