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2.
An abomination that tries to look cool by playing songs from other bands (e.g. AC/DC, Def Leppard) that will always be infinitely better than said tribute band. Often found on iTunes, which uses such bands in a feeble attempt to appease the masses who want the real deal.

Some albums are excpetionally idiotic because they change the genre, usually if the group the band is trying to copy is a rock band. Hayseed and hip-hop tributes are two noted examples.
rockjunkie1: Oh man, I can't believe I just wasted $9.99 like that...
rockjunkie2: What happened?
rockjunkie1: I bought what I thought was an AC/DC album on iTunes, but it turned out to be a tribute band.
rockjunkie2: Ouch
by Shadow_Ninja July 19, 2008
 
1.
A couple of musicians looking to make some extra money by taking songs from an already famous band. Usually the fore-mentioned band no longer performs and therefore it is a tribute. Although some of the most well liked tribute bands, do in fact do tribute to a band that is still in existence and performing.
"We should form a tribute band to a group that is still performing and show up at the same venues as them just a few days before."
"Oh, lets tribute Green Day!"
by swirles May 02, 2010
 
3.
A sad waste of space 'musical' combo who so despirately want to be like their musical heros they try to impersonate them and ended up being paid far more than their worth for doing it. The up shot is that in many cities bands and artists who play their own material are excluded from playing the better venues in the area because all the slots are filled by these third rate karioke clones.
"Sorry lads it's tribute bands only on the weekend" (A phrase often heard by original material musicians.)
by black flag June 02, 2004