With each and every Pokémon there seems to be something about them that is based off of one thing or another. For some Pokémon this can be pretty obvious at a glance, but others it can require a bit more digging. In the case of Flareon some things are pretty obvious to see what it is based off of so I will go ahead and explain some things I've found out.
Flareon's appearance could be based on foxes, likely due to its body shape and color, but it also has a sort of feline feel to it as well. The spiked look on its ears, mane, and tail reminds me of fire which likely has to do with the fact that it is a Fire-type, but it could just be me thinking that. The fluffy look of the mane and tail could be based off of a Pomeranian dog, and even that of a lion's mane. Whatever the case it is definitely awesome.
As for the name it is relatively simple. Flareon is a combination of the words flare and eon, a suffix commonly seen at the end of each form of Eevee's final evolutions, which means an indefinitely long period of time. Its Japanese name, Booster, means exactly what it says. The name is likely a reference to rocket boosters, which propel things by combustion of fuel.