Quote Originally Posted by Vyk
Ico was named after the main character. The main character in this game is not called Nico From what I've gathered he doesn't have a name. He's called Wanderer, which somehow was interpreted by American audiences as "Wanda". Hence the "Wanda and the Colossus" thing, and why they changed it so people would stop calling it that.
The title of the game is indeed "Wanda and the Colossus" in Japan. It was changed because English-speaking people would naturally recognize Wanda as a girl's name, which would be awkward. However, the intended interpretation of Wanda's name is "wander," in reference to the vast game world and the incredible amount of travel, exploration, and discovery therin. It's still spelled Wanda, though. That's the thing of it.

Wanda apparently doesn't have an official name outside Japan, but the localization manager personally refers to him as "The Wanderer," and the fans have naturally followed suit.