"Chakra" means "wheel" in Sanskrit. In the final position of this asana, the body is arched backward and resembles the rim of a wheel. Hence the name.
"Janu" means "knee" and "Siras" means "head" in Sanskrit. The head is made to rest on the knee in this posture, hence the name.
"Pada" means "foot" and "Hasta" means "hand" in Sanskrit. You have to catch your big toes with your hands in this posture.
"Shalabha" means "locust" in Sanskrit. The final position of this asana resembles a locust when it lowers its head to eat and raises its tail. Hence, the name.
"Sava" means "dead body" in Sanskrit. To practice this asana, one should lie motionless on the floor like as dead body in order to secure complete relaxation of all parts of his body and remove tensions, both physical and mental.
"Sirsha" means "head" in Sanskrit. It is required to "stand on his head" in this asana and hence the name.
"Sukha" means "pleasant" or "comfortable" in Sanskrit. Any cross-legged sitting position which you find comfortable, in which the body does not shake and in which you can remain at ease for a long time, is called Sukhasana.
This pose is also called Downward Dog or Downward-Facing Dog.