If nicknames get taken with the first 11 picks, I'll take a location or colour to go with the nickname that is left for me given that nobody else can take the last nickname. The one advantage of last pick.
I've (somehow) ended up with the last pick in the last few comps I've run with a draft and I've always had a workable concept.
I specifically tried to pick animals that weren't closely tied to a colour scheme but I guess you could end up with the Gold Coast Yetis wearing Orange or something like that which would be more difficult to work.
It might be worth taking a more versatile colour (like black) in the first round so whatever nickname you end up with, you can make it work.
I'd expect most people to be planning to go nickname > colour > location but I don't think it will be uniformly split like that across the rounds.
See that would seem the most logical, but I think the better strategy for those in the second half of the list is to switch things up and go for one of the other categories to gain advantage there.
If you stick to Nickname > Colour > Location then those in the 6/7-12 positions are always on the back foot when it comes to choices. So why not go for something that the first half have not gone for and take away their options for the second and 3rd round to create a balance. The nicknames will still be available in the second and third round as those in the top half will have already taken theirs, but choices of colour and locations will not be.
So logically the best move for those from those in the second half is to switch it up and cause those in the top half to make moves themselves. Then the draft gets interesting, otherwise it will be a formality with those at the top getting almost free reign of choices and those in the second half scrambling to get what is left.