Ah, but Tom Bombadil has fancy names too! The elves and the Dunedain of Eriador call him Iarwain Ben-adar (“Oldest and Fatherless”). The men from the Anduin and Rohan called him Orald (“Very Ancient”). And the dwarves called him Forn (“Belonging to Ancient Days”). Tom Bombadil was just the name that the hobbits had for him, most likely from Buckland specifically.
Do not underestimate Tolkien’s dedication to many numerous names, Anon. For he will bury you in names and translations and titles and names from your mother and names from your father and names you gave yourself. You think I’m kidding, but I’m not. :P
SOURCES: LOTR, The Adventures of Tom Bombadil, History of Middle Earth Index
((More gorgeous artwork by Ted Nasmith))