Thanks to Jill for sharing this with me.
Filipinos in the Philippines
"The Philippines have only been called the Philippines (with a "Ph") since the United States bought the country from Spain around the turn of the 20th century, after the Spanish-American War. Under Spanish colonial rule—which extended back to the 16th century—the country had been called "Las Islas Filipinas," after King Felipe II. For Americans, Felipe was Phillip, so Las Filipinas became the Philippines. While the name of the country changed, the name of the nationality did not. Those who lived in the renamed Philippines were still called Filipinos."
http://www.slate.com/articles/news_and_politics/explainer/2006/02/mind_your_ps_and_fs.html
Filipinos in the Philippines
"The Philippines have only been called the Philippines (with a "Ph") since the United States bought the country from Spain around the turn of the 20th century, after the Spanish-American War. Under Spanish colonial rule—which extended back to the 16th century—the country had been called "Las Islas Filipinas," after King Felipe II. For Americans, Felipe was Phillip, so Las Filipinas became the Philippines. While the name of the country changed, the name of the nationality did not. Those who lived in the renamed Philippines were still called Filipinos."
http://www.slate.com/articles/news_and_politics/explainer/2006/02/mind_your_ps_and_fs.html