Most guys I see in pubs and clubs doing this are a "tribute to xxxx" rather than being a "Tribute" band. If you just want to focus playing the songs of one band, then most punters will be happy if you just look like you. I know guys who copy the same gear, clothes, wigs and accents. If you want to break into theatres then levels of authenticity and "the show" have no limits.
I've played in Free, Led Zep, Fleetwood Mac/Peter Green and Allman Brothers "tribute" bands but we just played their songs, so not really "tributes" at all.