The four core party members (left to right: Draven Rowe, Reginald Black, Little One, Angel Bloodright)
"The party" refers to the four player characters (Draven, Black, Angel and Little One), along with any guest players (Zaheer), leadership followers (Mahar, Mora, Rainbowdash) and random hangers-on (Liz, Daggerface, Half-Orc Guy, GE-7).
Various actual names have been suggested, including "The Liberators" and "The Orc-slayer and his merry band", but none of them have stuck.