The Dream Mechanic looks a lot like Baron Munchausen, a public domain fictional character who is known for being incredibly imaginative (or for having genuinely led an unbelievable life, depending on who you ask). In one of his stories, he even uses a rope to dangle from the crescent moon (on another occasion, he visits it when it's more full). I like to imagine that the Dream Mechanic is his direct descendant. I decided this before I reached the end of the story, and when I reached it, it made my theory even better, because it makes the Dream Mechanic's attitude in that part of the story hilariously ironic.
Hey. That's a cool theory and I'm glad it made things more interesting for you, but unfortunately any similarities to Baron Munchausen are a coincidence. I have heard the name and I believe I remember something about him pulling himself out of a swamp or such by his own beard, but that's all I know about that story.