Quote's name being Quote.

Yeah, the king of the bars thing was something I believed for a long time, but I think GIR gave some sort of reasons based on japanese that convinced me otherwise.

Here I'll show you what it says on the Japanese wiki article for Cave Story:

当初は「プー」と命名されたが、J・R・R・トールキンの作品に登場する怪物「バルログ」には悪党の手下とい
うイメージがあることから「バルログ」に変更、これが命名の由来となった。

"At first he was named [Puu] but, from the monster [Balrog] who was in J R R Tolkein's works having the image of the villain's subordinate it was changed to [Balrog], and this became the origin of his name."

And that comes from this interview: http://www.4gamer.net/games/134/G013478/20120727031/

 

The name he was given could represent his importance in the game, because in stories quotes/quotations stand out greatly. He is the protagonist, after all.

 

I just say Japan is weird to us, and vice versa