What does Ulric mean?
Middle English form of the Old English name Wulfric, from 'wulf' ('wolf') and 'ric' ('power, ruler'), meaning 'wolf power' or 'wolf ruler'. Note it is often conflated with the German Ulrich, which derives from Uodalrich ('heritage/prosperity ruler') and does NOT contain the wolf element.
What does Drake mean?
English surname-turned-given-name from the Old Norse byname Draki or Old English Draca, both 'dragon', ultimately via Latin draco from Greek drakon 'dragon, serpent'. Flag: it coincides with the unrelated English word 'drake' meaning 'male duck', and the medieval byname's sense is sometimes read as 'dragon/standard-bearer (banner)', so the dragon reading is well-supported but not the only one.