The name of this monster is a portmanteau of "gāst" (an Old English word for "ghost") and "kraken" (a legendary sea monster commonly depicted as a giant squid). This naming scheme parallels with the naming scheme of "Evigishki Merrowgeist".
The spelling of the English name of this card, "Evigishki Gustkraken", implies a possible connection to the "Gusto" tribe, similar to "Evigishki Merrowgeist".