Garth: I've never seen you so mental over a girl before. Are you gonna marry her?
Wayne: Garth, marriage is punishment for shoplifting in some countries!
Mike Myers actually played the first few notes of "Stairway to Heaven" in the theatrical release. The director's later found out that playing even a few notes of the song would require special permission from the band, which they did not have. As such, all VHS and DVD copies have been dubbed over with the ending riff to "We Will Rock You" by Queen. They sound similar, and the producers hoped viewers wouldn't know the difference. See more...
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Continuity: At the end of the movie when everyone is in Wayne's basement, we see Benjamin painfully walk up to Wayne's house for each ending in the dark. When the scene changes to Wayne's basement for the first ending, you can see through the basement window directly behind them that it's broad daylight. This is especially easy to see when the equipment starts to spark.
Plot hole: When Wayne and Garth are trying to get Mr Big to hear Cassandra's band, they refer to when they spoke to the security guard earlier in the movie. They claim he said Mr Big would be in Chicago on Friday when he actually didn't - he never mentioned a specific day at all and just said he was travelling that way next week.