For David, I still put his name and initials on a lot of stuff, with plans to either not reuse it or "fix" the monogram so Luke can wear it. I could do that by (1) picking out the old monogram or (2) covering the monogram with a patch. The first option is tedious and sometimes doesn't look all that good after the monogram has been picked out depending on the type of fabric. The second option is much easier and there are lots of cute options.
These two rompers were handed down plain to me from a friend. I put David's monogram on them.
If you're keeping score, that's 3 kids who have worn these outfits. Hope this helps keep nice monogrammed items in the clothing rotation!