Well, you did ask (sort of), so:

$myform->{'name'}=~s/(\w)(\w+)/\u$1\L$2/;

## You can use perl's builtin functions to do the job:

$myform->{'name'}=ucfirst(lc($myform->{'name'});
[download]

You could also replace:

my @letters=split(//, $myform->{'name'});
while($letters[0]!~/^[aeiouy]/i){
  last if scalar(@letters)==0;
  shift @letters;
}
$myform->{'left'}=join("", @letters);

## with:

($myform->{'left'}=$myform->{'name'}) =~ s/$[^aeiouy]+//;
[download]