ðə nˈeɪm ʌvðə lˈeɪk kˈʌmz fɹʌm ɐ lˈɛdʒənd ɐbˌaʊt ɐ sˌuːpɚnˈætʃɚɹəl kˈæf wˌɪtʃ ɛskˈeɪpt fɹʌm ɐ wˈɛl ɪnðə tˈaʊnlənd ʌv ɹˈæθkɚ sˈaʊθ ʌvðə lˈeɪk ænd ɹˈeɪsd nˈɔːɹθwɚd wɪð ɐ stɹˈiːm ʌv wˈɔːɾɚ fɹʌmðə wˈɛl fˈɑːloʊɪŋ ɪt ænd flˈʌdɪŋ ðɪ ˈɛɹiə nˈaʊ mˌeɪkɪŋ ˌʌp ðə lˈeɪk.
The name of the lake comes from a legend about a supernatural calf which escaped from a well in the townland of Rathcor (south of the lake) and raced northward with a stream of water from the well following it and flooding the area now making up the lake.