It's very common in Ireland too. In Celtic/Pictish legend, they often attributed strange geologies to battles between gods, or heroes. For example, the giants causeway in Northern Ireland. There is also a mountain somewhere around Louth where Cu Chulainn took the top off a mountain fighting another warrior with a sling.

In later years, Christian folklore replaced the pagans with Saints and the devil. There is a mountain in the midlands somewhere with a big dip in the middle if two peaks, and it's named after st. Patrick, because the devil there tried to jump on him and kill him, but he missed and took out the mountain instead.

So I would agree with your sentiment that settlers named them like they would places back home - but through the lens that abnormal natural features are made by devils when they battle saints/god/Jesus.