The word Draco in Latin means dragon, whilst in Greek it means serpent, so Draco Malfoy certainly belongs in Slytherin, whose symbol is the serpent.
Like most of his mother's family members, Draco's name represents a star constellation. Found in the northern hemisphere, Draco is one of the oldest constellations ever recorded. Since it never set, the Egyptians believed that it was a goddess situated in the sky to protect them at any time of the day and night. On the other hand in Greek and Roman mythology it was said that this constellation was actually a dragon, thrown in the sky by the goddess Hera/Minerva as a sign of its defeat. Early Christians thought Draco represented the serpent that tempted Eve in the Garden of Eden.
Draco's surname, Malfoy, derives from the Latin word maleficus, someone who does evil. In ancient times this word was used for witches and their evil deeds. Malleus Maleficarum (The Witch's Hammer) was one of the first books on witchcraft. Published in 1487, it was written by two Inquisitors of the Church on the orders of Pope Innocent VIII to show people that witches really exist and help capture them.