The name is possibly a reference to the bunny hood from The Legend of Zelda: Majoras Mask, (also in The Legend of Zelda: Ocarina of Time) though this is very uncertain.
The design is somewhat similar to the mask Frank wears in the movie Donnie Darko or certain Splicers' Masks in the video game Bioshock.
It is possible that the bunny hood attracts multiple bunnies to the person wearing it, however this is uncertain.
This may also be an obscure reference to Monty Python and the Holy Grail, where in the Killer Bunny scene one of the knights says he's going to make a bunny suit out of the bunny. Again, a very obscure and unlikely reference, as this is only a hood, but still.