So many plays on words. Santa as in "Santa Maria!" or Santa as in ho, ho ho? There are just too many jokes that could derive from this name. It's a shame really, it's actually a very pretty name.
Having this name in America would be hell. Having this name in Spanish-speaking countries or any countries where this means 'holy' would be hell. Even in Finland, this is an old word for 'sand', and would thus be hell to have. Whereever people know the word 'Santa' to have the meaning 'holy', this is going to be hell to have. So why use the ridiculous name?
Pairs up nicely with a lot of names, such as "Santa Maria", "Santa Jane", "Santa Louise", "Santa Anita"... When pronounced right, as it should be "Sahn-tah", it sort of draws attention away from the familiar "Santa Claus" character.