Romulus

"of Rome" is a bit of a rough approximation of the literal meaning. The Latin name Romulus derives from the Ancient city of Roma (Rome) (rather than the folk etymology which derives Rome from Romulus) and the affix -ulus which functions as a diminutive suffix, thus meaning "little Rome". However it could (and probably should) be postulated that the "of Rome" hypothesis is still possible as diminution can be used to reflect something like possession. For example; the theophoric name Serapion derives from the Greco-Egyptian god Serapis and a similar diminutive suffix, however its literal meaning of "little Serapis" is probably more reflective of something like "little (one of) Serapis" in reference to the god's veneration (and thus a child who is an embodiment of him). And this very rough principle should probably be applied to Romulus -- so instead of "little Rome" it should reflect the more metaphorical (and if i don't say so myself, more interesting) meaning of "little (one of) Rome".

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Sorry of this is a bit of a mess, it's quite late where i am. [noted -ed]

It is possible that the name Romulus is derived from the Etruscan tribe name Ruma, as it is likely that the Etruscans founded the city of Rome.