I agree with Raifudo. It makes no sense for us to waste travels to go there UNLESS we can have our Ninja Academy, Armor/Weapon shop accessible there as well.
Seriously, do we REALLY have to give it a title? I mean, cant we just simply leave it as Elite Forest? It have it appear in the Forest like the Secret Cave? o.o
But if you guys are really serious about location and title, here's an idea:
Taking Pyro's idea...we can setup a "time/space portal" in the forest or perhaps a secret location where (for a small fee) it will teleport you during the time of the Great Shinobi World Wars and the place will be Amegakure (Village Hidden in Rain), where the battles were fierce and intense. Using that setting will help setup for stronger opponents such as Hanzō of the Salamander, the Sannins, Sakumo Hatake aka Konoha's White Fang, 4th Hokage himself, some Iwagakure shinobis and even add those shinobis from the Sky Country as well xD
For jutsus usage from some of the opponents, they can use their summons that deal good dmg.
I dont know what title of the portal itself should be unless you want to leave it as Time-Space Portal or Mysterious Cave.