The theory is that, if a Presidential candidate has policies of real substance - things utterly unprecedented in American politics - he or she could run for office under any name he or she chooses; no matter how ridiculous. With a name like Gnarly Poopus (for example), he or she has to be really on the ball. (I can't imagine a woman, no matter how great her sense of humor, choosing that particular name). And in order to be effective (in my opinion), the candidate would need to legally change his or her name to the new one.
However, I realize I'm probably just wishfully thinking. There are probably too many sticks-in-the-mud out there who couldn't handle that level of mockery of their political system... Although, if there's anything in human history that needs mocking, it's the current American system.
I refer to the 3rd entry. I'm still serious about starting a political party.