The Buffalo Bills are called the Bills in honor of "Buffalo Bill" Cody, a famous American frontiersman and showman of the Wild West. The name originated from a public contest in the 1940s for a Buffalo football team playing in the All-America Football Conference (AAFC). The winning entry likened the team to a band of "Buffalo Bills," referring to William Frederick "Buffalo Bill" Cody, who was known for hunting thousands of buffalo to feed railroad workers and for his Wild West show. This nickname was later adopted when the modern Buffalo Bills team was founded in 1960 by Ralph Wilson.

Buffalo Bill Cody was not from the city of Buffalo; he was a scout, buffalo hunter, and showman born in Iowa who became a legendary figure of the American frontier. The team's mascot, however, is a blue bison named Billy Buffalo, which represents the city rather than the origin of the team's name.