The film is credited with reviving the popularity of the British rock band Queen in the US through its use of their 1975 song "Bohemian Rhapsody." They had dropped in popularity throughout the 1980s in the US and hadn't even bothered to include the country in their final two international tours. This film caused the song to become a bigger hit in the US chart than it had been first time around, peaking at #2. Unfortunately, Freddie Mercury didn't live to see the song's renaissance as he passed away just a few months before the film's release. However, according to guitarist Brian May, Mercury did give permission for the song to be used and saw the clips while he was close to death because Mike Myers had sent a tape and wanted him to see it.
Alice Cooper came to the set under the impression that he would be performing musically for the film, with one line. Upon arrival, he was surprised to be handed an entire monologue to memorize and shoot with a small amount of time to do so. However, Cooper is known to be a history buff outside of his music career.
The Queen song "Bohemian Rhapsody" nearly didn't make it into the film. Mike Myers desperately wanted it, but Paramount and the film's producer, Lorne Michaels, opposed. Paramount didn't want the song because the rights were too expensive, while Michaels didn't want the song because he wanted something more current, preferring "Welcome to the Jungle" by Guns N' Roses. Myers threatened to quit the production if he didn't get what he wanted, and eventually they all agreed.
When Wayne and Garth are on the hood of the car watching airplanes fly over, Garth asks Wayne if he ever thought Bugs Bunny was attractive in women's clothing. The comment was an ad-lib by Dana Carvey made while waiting for an incoming plane to finally come in to the scene. Mike Myers was laughing at something else Dana said at another time during the same scene, and the director decided to edit Mike's laugh after the Bugs Bunny joke because it looked better than a fake laugh.
Rob Lowe: [catchword] When Wayne and Garth are given the development contract, Benjamin Oliver (Lowe) says "...and he LITERALLY jumped out of his seat." His character Chris Traeger frequently emphasizes the word LITERALLY in Parks and Recreation (2009).
Chris Farley: Farley's big screen debut was as the security guard at the Alice Cooper concert. Farley would also appear in Wayne's World 2 (1993), playing a different character.