The second argument of the Thread
constructor can be a name, so
Thread t = new Thread(new cheerLoop(), teamName);
Javadoc
Note that a thread's name is a property of the thread object and not the same thing as the name of a variable. If you are interested in making a variable with a name known only at run time then you can use a more dynamic language, or, if you are using Java, store the objects in a hash map indexed by names, or use the Thread.name
property.
(Aside: It's a little unusual to create threads directly these days; we tend to use pools and executor services and such things, just FYI. This S.O. question might have information for you on how to do this with thread pools.)