Name one's favourite royal (5)

I believe the answer is:

peter

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'name one's' is the definition.
The definition and answer can be both people as well as being singular nouns.
Maybe there's a link between them I don't understand?

'favourite royal' is the wordplay.
'favourite' becomes 'pet' (synonyms).
'royal' becomes 'er' (abbreviation for Elizabeth Regina).
'pet'+'er'='PETER'

Can you help me to learn more?

(Other definitions for peter that I've seen before include "Saint's name" , "Boy's name - safe" , "Disciple" , "emperor" , "- Pan, eternal youth" .)

I've seen this clue in the Evening Standard.

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