I wanted to name my dog pencil. Pencil would love to eat pencils, sniff pencils, lick pencils, and write with pencils. I had to write pencil on a paper 50 times (not really), so my paper looked like this.
pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil pencil
I once made a pencil that never wears off, I called it the Everleady *patent pending*

Next word: steak

Mmmm... Steak! I like steak because steak tastes very steakey ("steakey" is a derivative of "steak" BTW). In fact, one time, my life was at stake (close enough =p) when my steakey piece of steak didn't taste quite like the steakey taste of steak should taste when I ate my daily loaf of steak on a Friday; I almost died of a steak attack! Thankfully, Mr. Steak, who has a really steakey personality, fed me a steakier-tasting steak dish that didn't taste so un-steakey, thus healing me of my steak attack!

Okay, the next word is BICYCLE.