Because it is in a basin surrounded to the east, west, and north by mountains (Mt. Dadong, Mt. Guanglun, and Motian Peak, respectively), Fenqifu reminded early settlers of the three-sided baskets used in drying rice. The word for this kind of basket is bengi in Taiwanese, while basin is hu in Taiwanese, so the name Bengihu just meant "Three-Sided-Basket Basin."
因為東、西、北三面環山（大凍山、光崙山、摩天嶺），中間地勢低窪，狀如農家曬穀用的「畚箕」，又因為閩南語中「盆地」叫「湖仔」，因而名曰「畚箕湖仔」；後取其國語諧音，更名為「奮起湖」。