The primary role of any parent is to ensure that a child gets a good grounding in life, respects the people around them and stays away from a life of crime. With that in mind, we don't think that 'bandit' is the best aspirational way to refer to a new born baby. That's the route that Gerard Way and Lyn-Z decided to take with their nine-year-old daughter, though, and so we're just going to chalk it up to another case of rock stars doing strange things when they have children.
Way Sr. was the frontman of emo-rock superstars 'My Chemical Romance,' who were an iconic band for alternative youths, and so his choice of a very alternative name for his daughter is probably true to form. Lyn-Z also comes from the alternative world, best known as the bass player of 'Mindless Self Indulgence' - a term that could be used to describe the process by which they arrived at naming their child.