Tayloe is indeed a name which occurs on occasion in the South, especially
Virginia. It is a surname transfer. The Tayloe family has been prominent in
Virginia for 300 years, and there have been examples of both men and women with Tayloe as a first name in that state.
Tayloe seems to be an English surname, perhaps originally from Gloucestershire. I haven't been able to find a sure explanation of it; a site selling coats of arms claims it's just a variation of
Taylor, but that may be a wild guess without substantiation.