And now to the challenge!
What could this name be?
For me, an Elf would name something only in elvish. Therefore it should be an elven name, now if you can find out what elvish is for wolf, dragon etc...?
Very good, though I wouldn't have revealed a single hint of it's shape or form until the elf saw it, then the reader can share in the surprise with the elf, by removing the 'wolfen sense' and mentioning of wings etc. From the start the curiosity of what the thing is can keep the reader going.