Yes, that’s the real name. Demm was an Italian manufacturer based out of Milan that specialized in small (50-175cc) two wheelers. They created bikes between ’53 and ’82 (some were briefly imported to the US between ’76 and ’78) and had some truly interesting names for their bikes, like the Dick-Matic, Ping Pong, and this Dick Dick.
This is named after the Dik-dik, a small antelope found in Africa, and this specific example is claimed to be all original and in remarkable condition.
Find this Dick Dick for sale here on Craigslist in San Francisco, California for $1,345.