The name came about because the local paper ran a competiton to find a name for this new pub and the name 'Peregrine' came out on top.
The Peregrine Project was asked to supply photos and captions which could be framed and hung on the pub walls. I've not been drinking there for awhile now but I imagine the pictures are still in place.
In addition, The Silk Mill, a pub very local to the cathedral now sells a beer named after the birds and a local microbrewery also named one of their beers after the falcons.
All 'grist to the mill' as they say.....
Addition: as reminded by a comment (thanks Pam) one of the 2008 youngsters came down in Irongate right in front of The Standing Order Pub. Mind you, it was 7am so the pub was shut and the little male (it would be wouldn't it?) didn't get his drink! Instead we took him back to the top of the tower where he looked a bit bemused...eventually he took to the air successfully second time round.