The song is certified Platinum in Australia and Gold in New Zealand and the United Kingdom. In Europe, the single charted in the Netherlands, reaching number 25 on the Dutch Top 40, and in the United Kingdom, where it peaked at number 84 in May 2012. Upon its release, 'Tribute' failed to make a commercial impact in the United States, but it became a hit in Australia and New Zealand, peaking at number four on the Australian Singles Chart and number nine on the New Zealand Singles Chart.
The song is a tribute to what Kyle Gass and Jack Black refer to as 'The Best Song in the World' (often confused as the song's title), which Tenacious D themselves came up with but have since forgotten.
'Tribute' is the first single of Tenacious D's self-titled debut album, released on July 16, 2002.