shortened to Chabunagungamog.

The full English transliteration is "Chargoggagoggmanchauggagoggchaubunagunggamogg."
Maybe I have a few double-g's misplaced.

It's actually quite pronounceable is you break it up: Char-gogg'-a-gogg/man-chaugg'-a-gogg/chau-bun-a-gungg'-a-mogg.
All the g's are hard, as in "goggles."

The local name is Webster Lake. It is, indeed, in Webster, Mass., close to Connecticut.

The translation You-fish-on-your-side-I-fish-on-my-side-nobody-fish-in-the-middle is considered to be an Urban (make that Rural?) Legend, though I haven't looked it up lately. Disappointing. I don't know if there _is_ a "real" Indian meaning to the phrase, but it has to be more charming the legendary way.