The name of this area has more than one origin: the first would have it that it all derived from the fact that a bean (fava) merchant lived near the bridge, who used the beans to hid contraband salt, and that he was saved from police checks by praying to a holy image in the square at the spot where the Church of Santa Maria della Consolazione stands today (built in honour of the holy image, but moved away from the canal’s edge in the early 18th century). 

A second version attributes the name to the presence of a shop selling almond paste sweets, which are still enjoyed in the city on Feast of the Dead, and which are called fave. According to tradition, beans are eaten on that day because the souls of the dead resided in the beans; but since beans weren’t a very delicious dish, they were replaced over time with sweets.