स्कन्दत्यमृतरूपेण स्रवति वायुरूपेण शोषयतीति वा स्कन्दः ।स्कन्दं धर्मपथं धारयतीति वा स्कन्दधरः ।धुरं वहति समस्तभूतजन्मादिलक्षणामिति धुर्यः ।अभिमतान् वरान् ददातीति, वरं दक्षिणां ददाति यजमानरूपेणेति वा वरदः, 'गौर्वै वरः' इति श्रुतेः ।वहतः सप्त आवहादीन् वाहयतीति वायुवाहनः ।वसति वासयत्याच्छादयति सर्वमिति वा वासुः; दीव्यति क्रीडते विजिगीषते व्यवहरति द्योतते सूयते गच्छतीति वा देवः; वासुश्चासौ देवश्चेति वासुदेवः ।
In plain words
Because He flows forth as nectar and dries up moisture in the form of wind, He is Skanda. Because He upholds the righteous path, He is Skandadhara. Because He bears the heavy cosmic burden of creating and sustaining all beings, He is Dhurya. Because He grants cherished boons, or gives sacrificial fees in the role of the patron, He is Varada, as the śruti states: 'The cow indeed is a boon.' Because He controls and propels the seven atmospheric winds beginning with Āvaha, He is Vāyuvāhana. Because He dwells in all things and envelops the universe, He is Vāsu; and because He shines, sports, conquers, transacts, illuminates, and pervades, He is Deva. As both Vāsu and Deva combined, He is Vāsudeva.
Close to the Sanskrit
Because He spurts forth in the form of nectar and flows, or dries up in the form of wind, Skanda. Because He upholds Skanda, the path of dharma, Skandadhara. Because He bears the burden characterized by the birth of all beings, Dhurya. Because He bestows desired boons, or gives the sacrificial fee as the ritual patron, Varada, 'The cow indeed is a boon' from the śruti. Because He drives the seven winds beginning with Āvaha, Vāyuvāhana. Because He dwells, clothes, and covers everything, Vāsu; because He shines, plays, desires to conquer, acts, illuminates, generates, and pervades, Deva; Vāsu and that Deva, Vāsudeva.