What will the kids after Gen Y be called? "Gen Z" gets my vote, not because it's evocative, but because it's easy to remember.
If I coined a name for them, it would be the "MOBILE-GLOBALS" to recognize the most significant technology of their early childhood and the world-connectedness into which they're being born.
These children are the ones born after the mid-90's (some say 2000). Here are some of the other names in contention.
Generation M (for Millennium or Multi Task)
Generation Q (for "Quiet", termed by Thomas L. Friedman)
Net Gen, a shortened form of "Net Generation"
Thanks to a blogger named Tehtaza for the list above.