"Funky" may evoke multiple colors associated with disco music.
Both of the known members of Team FNKI seem to be inspired by internet memes, suggesting an inspirational basis for the remainder of the team.
Flynt is a reference to Flynt Coal, a running joke and fictional character created by the Achievement Hunters during their Let's Play Minecraft series. His name is derived from the Achievement Hunters repeatedly getting confused between the game items "Flint" and "Coal".
Neon is a reference to rave parties, as well as the internet sensation, Nyan Cat.