There is no single "correct" answer as the name should reflect the desired image and political implications. Here are several options, categorized by approach:

Options emphasizing unity and peace:

• PeaceLand: Simple, direct, and conveys a hopeful message.
• United Canaan: References the historical name of the region, suggesting a unified identity.
• Land of Abraham: A religiously neutral name referencing a common patriarch.
• Covenant Land: Suggests a binding agreement and shared destiny.
• Harmony State: Emphasizes peaceful coexistence.
• New Canaan: A hopeful name suggesting a new beginning.
• The Two Rivers State: A geographical reference, potentially less politically charged.
• The Olive Branch Republic: Symbolic of peace.

Options reflecting a more complex or nuanced reality:

• The Levant Federation: A more formal and geographically accurate name.
• The Abraham Accord State: References the Abraham Accords, suggesting a foundation in recent diplomacy.
• The Mediterranean Commonwealth: A broader, less specific name.
• The Holy Land Union: A potentially controversial name due to religious connotations.

Options that might be considered less suitable due to potential negative connotations:

• Names that heavily favor one side over the other (e.g., names heavily emphasizing "Israel" or "Palestine") could be divisive and unproductive.

The best choice will depend on the specific context and desired message. Consider the audience and the overall goal when making your selection.