This isn't that peculiar... just trying to name associate with a cool movie, The Big Lebowski.
Yeah, but this was at least a year or two after the movie came out. (Which isn't unusual for the WWE, with their well-established history of jumping onto pop culture bandwagons long after their primes.) And absolutely nothing in Val's character, look, or gimmick even vaguely resembled anyone or anything in The Big Lebowski.
WWE wasn't really behind the pop culture trend on this one. Big Lebowski wasn't very popular when it came out. It only played in my area for 2 weeks, and there weren't tons of people there with me when I saw it. Once I bought it (on VHS!) and had it with me at college, I remember it becoming a real favorite around the dorms to watch around my junior year, which would have been 2001/2002. First Lebowski Fest wasn't until 2002 or 2003. If WWE had jumped on it in '98, they would have been way ahead of the popular curve. As it was, they were pretty much in line with the popular trend (this may be the only case of that happening with WWE and pop culture).