Great Strips: Lala Palooza!

I have a hunch Perry Ferrell named his music festival after an esoteric weirdo comic strip. In Plastic Man issue 63, published in 1956, the imbedded strip has the exact same title as the alt-rock music festival of yore. Ferrell claims to just have made the name up off the top of his head--but is he lying? Did he thumb through countless Plastic Man comics to find a name? Did he read the comic as a child and conveniently forget it? Is it apart of some Cold War nuclear conspiracy? We'll never know.