You can use lookup
:
df['new_col'] = df.lookup(df.index, df.names)
df
# a b names new_col
#0 1 -1 a 1
#1 2 -2 b -2
#2 3 -3 a 3
#3 4 -4 b -4
EDIT
lookup
has been deprecated, here’s the currently recommended solution:
idx, cols = pd.factorize(df['names'])
df.reindex(cols, axis=1).to_numpy()[np.arange(len(df)), idx]