Shadows's new identity, Mike Ainsel is obviously a reference to the fairy tale name 'My Ainsel,' (My Own Self.)
As shown with the name Mike Ainsel (My own self) Emerson translates to Ymir's son, Ymir founded the frost giants and in some versions of the myths is Odin's great grandfather and Borson translates to Borr's son, Borr is the father of Odin, so although Wednesday calls it an unlikely name, it actually fits him perfectly.
Hinzelmann is the name of a kobold, (a German sprite,) sometimes known also as 'Luring'. Like most sprites, Hinzelmann could be benevolent or malicious. He often took the form of a child wearing red velvet but his true form was that of a very young child who had been stabbed with two swords. Legend has it that he haunted the castle Hudemuhlen.