Family is named for genus
Yponomeuta Latreille, 1796. That name was apparently a typographic error
(!) for
Hyponomeuta
(1). That would be a combination of Greek prefix
hypo under, plus
nomeuta (unknown, perhaps from Greek
pno air; breathing, plus
meuta?)
(2). Genus
Hyponomeuta was apparently used as a name at a later date (Internet searches).
Common name
ermine moths apparently refers to resemblance of some species in
Yponomeuta (white with black dots) to the winter coat of the mammalian
Ermine: