The WWF had a short-lived group of wrestlers banded together to fight The Corporation, casually known as The Union. The full name of the group was the Union of People You Oughta Respect, Son (or Shane), or U.P.Y.Ou.R.S.
When Lance Storm, the leader of WCW's Team Canada, won the WCW Hardcore Championship, he renamed it the Saskatchewan Hardcore International Title.
Before that, Vince Russo wanted to call said belt the Stu Hart International Title, but WCW was unable to get permission from Mr. Hart.
Similarly, when WWE wrestler Rosey became The Hurricane's sidekick, he was at first known as a Super Hero In Training. He'd usually wear a T-shirt with the phrase written in magic marker, with the left-hand side of each word lined up vertically and the first letter larger than the rest, just to drive the point home.
Besides U.P.Y.Ou.R.S. and the S.H.I.T., here are some more initials that are attributed to Russo:
Terri Invitational Tournament.
Sports Entertainment Xtreme.
Terri, Jacqueline and Ryan Shamrock formed a stable in the late 90's called the Pretty Mean Sisters.
Voodoo Kin Mafia, a Take That towards Vince McMahon (whose middle initial is "Kennedy").
There's also the meaning behind the name TNA: Total Nonstop Action.
Hog-farming cousins Henry O. Godwin and Phineas I. Godwin.
David McLane has created three different women's wrestling promotions that use this trope: Gorgeous Ladies Of Wrestling, Women Of Wrestling, and Powerful Women of Wrestling.
Santino did this once against the Corre by having a group known as APPLE or "Allied People Powered by Loathing Everything" you stand for, which consisted of him, Daniel Bryan, Mark Henry and Evan Bourne.
