Very VERY funny

Bilbo "he who treasures things"
Frodo "wise"
Gandalf "brave warrier"
Radagast "happy surprise"
Thorin "sharp"
Aragon "wandering man"
Arwen "bird of light"
Boromir "humble warrier"
Farramir "poor traveller"
Eowyn "welcome victory"
Galadriel "she who is lucky and beautiful"
Gimli "twice brave"
Legolas "young founder"
Smeagal "flat and birdish"
Saruman "gardener" (haha)
Sauron "talks to kings"

Aragon & Arwen:
Arnen, Wengon, Elrond, and Fremor ... all sons

Samwise and Rosie:
Frodo and Gantrav, sons
Sassie, daughter

Farramir & Eowyn:
Theodin (after her father)
Boromir (after his brother)
Wynf, son
Emira and Rohanna, daughters