I think pc88mxer answered your question for the most part.

$my_name = replace("august ferdinand mobius","\b(\w)","\U$1","igs");
# Becomes something more like...
$my_name = replace("august ferdinand mobius", qr/(?igs)\b(\w)/, '\U$1'
+);
[download]

Update: You should consider that your solution will not work for a variety of names, like mccleod, vomdorp, decaro, etc. For proper names, a dictionary (with the right library under it, like proper names) is a better way to go, and there is no perfect solution since the same spellings are sometimes capitalized differently. :(

I gave a few examples, more-or-less off the top of my head, in an article I wrote a number of years ago, when I was talking about the inadvisability of assumptions when it came to names:

John deJongh
Jan M. van de Geijn
Kathleen O'Hara-Mears
Siu Tim Au Yeung
Nang-Soa-Anee Bongoj Niratpattanasai
Mjölby J. de Waærn

Also, assuming things about the order of, say, Chinese or Indian names is likely to run into problems - even within a given city, in the latter case.

-- 
Human history becomes more and more a race between education and catastrophe. -- HG Wells

The names problem is interesting, although I'm sort of kicking myself for giving it as an example. The motivation for this post was and is to develop a general substitution framework for parametrized regex creation...