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Olimar's Japanese name (オリマー Orima) is an anagram of Mario (マリオ). Similarly, Olimar's partner's name, Louie, is based on Luigi.
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It's possible that each of the first 5 Pikmin's designs represent the 5 recognized senses:

• Smell: Red Pikmin have visible noses
• Taste: Blue Pikmin have visible mouths
• Sound: Yellow Pikmin have visible ears
• Touch: Purple Pikmin have hairs atop their head, possibly serving as feelers
• Sight: White Pikmin have large eyes.
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In every game starting with the Wii releases of Pikmin and Pikmin 2, the enemies Yellow Wollywogs and Wogpoles had their names changed to Yellow Wollyhops and Wolpoles when the games were localized in Europe. This is believed to have been done because "Wog" is derogatory British slang for a dark-skinned person.
person Ophl calendar_month October 12, 2014
The Cutting Room Floor articles:
https://tcrf.net/Pikmin_3/English_Translation_Differences
https://tcrf.net/New_Play_Control!_Pikmin_2#Regional_Differences
https://tcrf.net/New_Play_Control!_Pikmin#Regional_Differences