There's a prestige class in one of the Dungeons & Dragons settings called Lord of Tides. It has nothing to do with the sea; its main purpose is to locate water in the dry desert setting used, and later summon elementals.
There's also Turn Undead, which uses an obscure meaning of the word "turn".
When 4th edition delved into the realm of psionics with its third Player's Handbook, it gave us among other playable classes the "battlemind". Which sounds a bit odd and perhaps a little bland, but makes perfect sense for something like, say, a telepathic leader figure who uses their gifts to coordinate their allies and predict their enemies' moves — wait, what? The class is all about front-line fighter types who instead use their psychic abilities to enhance and perhaps even transform primarily their bodies, sometimes even being pointedly too dense to figure out that that is in fact what they're doing? Never mind, then...
Something that started in original Dungeons & Dragons and continued into Pathfinder, Hobgoblins. The word "Hob" in English pertains to impish creatures; "Hobgoblin" therefore, was traditionally an impish goblin, while true Goblins were human-sized. Since Pathfinder descends from D&D, which was written by people with a tentative understanding of European folklore at best the misnomer stuck, and "Goblins" became the diminutive guys while "Hobgoblins" became the taller, smarter cousins.
In 3rd Edition, Dragons don't come automatically made and have to be purpose-built by the dungeon masters for the encounter they're devising. As a result, many new dungeon masters, not knowing how to build a balanced encounter with a Dragon, will simply never include them in their games.
The very first supplement to the core rules of OD&D was called Greyhawk. It didn't contain a campaign setting, or any information at all about the Greyhawk world.
Chinese Checkers game was created in Germany. This Nonindicative Name was induced deliberately when it was brought into the United States, as the marketers thought it sounded more exotic that way. Probably for the same or a similar reason, when the traditional English dice game Yacht was mass-marketed, it was given a pseudo-Oriental makeover and renamed Yahtzee (no connection with thisYahtzee).
Necrons for Warhammer 40,000 have melee soldiers known as "Flayed Ones". Actually, they are the ones doing the flaying. And wearing their victims' skins.
Also in the novels, Graham McNeil Ultramarines novel Dead Sky, Black Sun has the Unfleshed, hulking monstrosities with a lot of flesh in the form of muscle. It's the skin they lack (no, it wasn't taken by the guys above).
Joe Dever was obviously far more concerned about creating an elaborate world and riveting adventures when writing the Lone Wolf series than accurate titles. As a result, quite a few of them are at best very loose fits:
Fire on the Water — This refers to the big naval battle where you wield the legendary Sommerswerd, which occurs at the very end of the adventure and is easily the least dangerous part of it. The great majority of the adventure is your quest to obtain the weapon.
The Caverns of Kalte — Your mission begins in open wilderness and ends in a fortress; unless you take one very specific detour (with a 30% chance that you'll miss it entirely), you're going to see little, if any, of the eponymous caverns.
The Kingdoms of Terror — The wars between the Stornland kingdoms play next to no real part in your quest, and in any case there's nothing particularly terrifying about any of them.
The Cauldron of Fear — Not only is the Cauldron is a completely nondescript landmark which serves solely to get you to Zaaryx, there's a 50% chance you won't even use that route.
The Dungeons of Torgar — As with FotW, the point of nearly the entire adventure is getting to Torgar's dungeons, and you hardly do anything in them.
The Prisoners of Time — You don't see the prisoners in question until the very end of the adventure, they don't have anything to do with your quest, and until you meet them you don't even know who they are.
The Captives of Kaag — Just the one captive! (There are other unfortunates in Kaag, but they're well beyond saving.)
Dawn of the Dragons — An epic, sprawling journey where you face a grand total of ONE dragon, near (yep) the very end. And of course, if you're successful, there is no "dawn of the dragons"; they're toast.
The Curse of Naar — Despite the fact that you're in Naar's domain, not only doesn't he speak to you or attempt to hinder your quest (especially curious since he does both several times over the course of Grand Master), he doesn't even appear at all!
The Buccaneers of Shadaki — You face them once in a very brief encounter near the start of the adventure, after which they have no relevance to anything whatsoever.
The Fall of Blood Mountain — The mountain kingdom is still standing at the start of the adventure; its fall is what you're fighting to prevent.
In a sense, Magic: The Gathering. Originally the intent was for the game to be but the first of a series of card games (which would have thus been progressively named.) However, the first game proved so immensely popular that they abandoned the idea, and simply expanded the first one with more cards. Thus the name became effectively an Artifact Title, and the "gathering" part doesn't really say anything at all about the game.
In Over the Edge, although the city it's set in is called The Edge, the characters are far more often in the Edge than over it.
In the Yu-Gi-Oh! game, the Gradius card, the first card in a very long line of monsters based on spaceships and enemies from Konami's Gradius Gaiden series, is a misnomer; the space fighter on the card is actually the Victory Viper ("Gradius" is the name of the planet the craft defends). Although, they do have another more appropriately named card depicting the Vic Viper.
The Blue-Eyes White Dragon is a blue dragon with white eyes, not a white dragon with blue eyes as the name suggests. It's not even a translation issue, as the card has the English name "Blue-Eyes White Dragon" even in Japan. Some think it should be written as "Blue Eyes-White Dragon", but that sounds rather awkward. Adding to the confusion is the similarly-named Red-Eyes Black Dragon, which is in fact a black dragon with red eyes, just like the name suggests. Other dragons with similar naming schemes (such as Odd-Eyes Pendulum Dragon) do have indicative names, making Blue-Eyes White Dragon even more bizarre for being the only one to have a Non-Indicative Name.
Red-Eyes Black Chick is a baby dragon, not a black baby chicken with red eyes. This is a translation issue, as the card's Japanese name is Kokuryū no Hina, which means Black Dragon's Hatchling. It's not even anything to do with the Red-Eyes Black Dragon, making the name doubly non-indicative.
Black Magician and Black Magician Girl are not black, they're white, and they don't even wear black - Black Magician wears purple or red, and Black Magician Girl wears blue and pink. The name refers to black magic, which is one of the reasons why they were renamed to Dark Magician and Dark Magician Girl when the series was translated. Black Magician's attack, Black Magic, was also renamed to Dark Magic Attack to keep in line with the renaming.
The character on the artwork of Buster Rancher (a Spell Card) probably doesn't own a ranch. The name is actually Buster Launcher and was mistranslated.