Hmm, after looking this over again I found I was incorrect. Outlook will
allow the creation of a Peter Pan. Though, there is still an anomaly with
that name and creating a contact. For example,

Select to create a new contact

In the 'Full Name' field enter John Public

Move the cursor to any other field.

After moving to any other field you'll note that Outlook doesn't throw up a
warning that the name has not been completed properly. Performing the exact
same set of steps on the name Peter Pan will cause Outlook to warn you that
the name field is not properly entered. On this prompt titled, "Check Full
Name" you'll note that Outlook has incorrectly placed the Peter Pan name in
the Title field. Odd indeed.

I can find no other simple, basic name like Peter Pan that causes Outlook to
exhibit this unusual behavior.

I think its a bug. Albeit a very mundane one.

JW