You stumble upon a new animal, one the world has never seen. What is it and how did you come up with it's name?

I can't believe I found the worlds first ever Micophant.  I thought for sure what I had stumbled upon was a very tiny, baby elephant but I know baby elephants can weigh up to 200lbs at birth. This little 3lb creature with all the features of a full grown elephant was truly one of a kind.  The most notable item my Microphant had was a tiny set of functional wings. So not only could this small creature move by foot, it could also fly!  I was so astonished by this discovery I contacted my local Zoo which helped me identify this animal and notify the appropriate scientific community of this incredible discovery.