Theodore Kermit Scott was a boyhood playmate of Muppets creator Jim Henson. They were classmates at Leland Elementary School in Mississippi. Years later, when Henson created Kermit the Frog, he was inspired by the bullfrogs he heard roaming around Deer Creek with his friend and used his friend’s middle name for the character.

Scott went on to become a professor (now professor emeritus) of philosophy at Purdue University and is the author of several books on Saint Augustine. Of being a frog’s namesake, he said "I can think of a lot worse things I could be associated with."

quote from http://www.linguafranca.com/9512/kermit.html