Hey, I saw this game being played on EbaumsWorld forums and it's fun. Basically it works like this. You say the name of a band, but differently, using synanoms or descriptions of the words in the name of the band. For instance.
River in Hell = Styx
PB Dirigible = Led Zeppelin (PB being the periodic symbol for Lead of course)
And so forth.
You take turns, when you give the answer you get to post a band name of your choice for others to take a stab at.
Here's a starter.
Alternating Current Illumination Symphony