It is just a goofy mashup of two similar names. You know what? I love it! It's even better with how you did this because it seemed like such an obvious joke. There are a lot of times where I search for images that have obvious jokes and they always come up. I guess this was your original idea!
You don't really draw characters from western animation much. Of course, you did combine it with something Japanese. You got the smile down perfectly! I forgot that platform he uses. Then again, I never played Mega Man as a kid.