October 19, 2015 08:30 PM

It took a few months, but Zooey Deschanel has finally spilled the beans on her baby girl’s name.

The New Girl star and her husband, Jacob Pechenik, have chosen Elsie Otter for their now 3-month-old daughter, the couple told PEOPLE Wednesday at the Rock the Kasbah premiere in New York City.

“It’s Elsie…” Deschanel began, while Pechenik finished, “Otter.” “Like the animal,” the actress explained, with her husband adding, “Sea otter!”

The actress elaborated on Today Tuesday morning, saying, “We just really liked the name Elsie and then we both love otters — they’re very sweet and they’re also smart. They use tools … they hold hands while they sleep, there’s so many amazing things about otters. They’re wonderful animals.”

Born in late July in Austin, Texas, Elsie is the first child for the pair, who announced both their marriage and their daughter’s birth in August.

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Although Deschanel, 35, is keeping photos of Elsie under wraps for now, her New Girl costar Lamorne Morris assured PEOPLE that she is quite adorable.

“She’s an extremely cute baby,” the actor said back in August. “She looks like Zooey.”

Gilbert Carrasquillo/FilmMagic

Looking slim in Lela Rose’s off-the-shoulder sparkle dress, accessorized with a Les Petits Joueurs clutch and pattern Wolford tights, the actress shared a few details about Megan Fox‘s guest appearance on the hit show while Deschanel finishes up her maternity leave.

“I’m super excited — we get to do one episode together. Essentially, [my character Jess] gets on jury duty and has to be sequestered, so the roommates rent out her room for a few weeks. I think [Megan’s] going to be fantastic.”

On Monday it was announced that Time Inc., PEOPLE’s parent company, has acquired HelloGiggles, the millennial women’s brand founded by Deschanel, Sophia Rivka Rossi and Molly McAleer in 2011.

Rock the Kasbah opens Friday, while New Girl returns in January.

— Sarah Michaud and Kristen Caires

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