Formal:
* Ils s'appellent... (literally "They call themselves...") This is the most common and versatile way to say it.
* Leurs noms sont... (literally "Their names are...") This is more formal and less commonly used.
Informal:
* C'est... et... (literally "It's... and...") This is used when you are already talking about the people, so you don't need to repeat "their names are."
* Ils s'appellent... et... (literally "They are called... and...") This is a slightly more formal version of the previous option.
Examples:
* Ils s'appellent Jean et Marie. (Their names are Jean and Marie.)
* Leurs noms sont Pierre et Sophie. (Their names are Pierre and Sophie.)
* C'est Paul et Julie. (It's Paul and Julie.)
* Ils s'appellent Paul et Julie. (They are called Paul and Julie.)
The best choice depends on the specific situation and the level of formality you want to use.