I guess every band does it: cover a song they think is great but every so now and then they perform a cover they haven't recorded, just for the fun of it. Let's show the best examples of big rock bands playing songs of other big rock bands.
http://www.youtube.com/watch?v=j3pgUo57aEI
Here's Velvet Revolver saluting Pink floyd
http://www.youtube.com/watch?v=-KC8ia6VmtM
Kiss hoping that they "Won't get fooled again"
Paul Stanley admitted that seeing The Who was his introduction on how a rock star should behave on stage. The parading on stage and the smashing of a (prop) guitar comes directly from him copying Rgoer Dalterey and Pete Townshend.
http://www.youtube.com/watch?v=9FPPICGDz30
Once again Kiss fooling around on stage a bit and actually playing a George Micheal song before saluting a couple of bands that without a doubt were a far bigger influence on them.
http://www.youtube.com/watch?v=XtNhpVDcaGA
Here's Spock's beard performing a classic by another proliffic prog rock band. Even making the same switch that the band they are saluting made of the drummer singing.
http://www.youtube.com/watch?v=hQszoQJT0Tc
Otis Redding performing "Satisfaction" by the Rolling Stones. Keith Richards once remarked that he felt frustrated about the fact that he wasn't able to bring in a horn section to play that epic riff. Luckely, Redding understood what Richards was trying to do.
This one should come as no surprise.
http://www.youtube.com/watch?v=zNScY5-C_1g
I have a boot recording of Cheap Trick covering "Highway to Hell" that's pretty good.
The kings of cover has to be Los Lobos, though. There's a site somewhere that has their set lists over the years. Those guys must know hundreds of songs.
http://www.youtube.com/watch?v=w0M7-lx3vhk
http://www.youtube.com/watch?v=DGT-Eh6plIY
Runners up on the cover thing would be Government Mule
http://www.youtube.com/watch?v=K5M47DBu6nA
http://www.youtube.com/watch?v=Eu3ZIEXFUyY
Last is this. I love this one. I always said that my last band was headed in this direction. The video isn't the greatest quality, but the band is great. Anyone know if it was The Hooters behind her?
http://www.youtube.com/watch?v=WiO0NI5UOXU
http://www.youtube.com/watch?v=-pMqSyIwmA8
http://youtube.com/watch?v=TKtURqCt-JQ
Not a well-known band, but it is "Satisfaction" with horns - and damn, Ann Margret is fine!
http://www.youtube.com/watch?v=G4LcsZGSf0Y (http://www.youtube.com/watch?v=G4LcsZGSf0Y)
Early WHITESNAKE doin' the Beatles Day Tripper:
http://youtube.com/watch?v=ub8rPHBXd20
Black Sabbath did "Smoke on the Water" when Ian Gillan was with them. For those who don't know, Bev Bevan (ELO) was the drummer for that tour. He was Geezer's neighbor. I interviewed Gillan on that tour, and he joked that they had talked about doing "Telephone Line" for an encore.
http://www.youtube.com/watch?v=LD_nKASvCtk
Uwe's EDIT: They actually did rehearse Evil Woman (the ELO, not the Sabbath track from the 1st album), but then didn't have the guts to play it. "Born again" is an underrated classic.
There's no video out there, but Hunter/Ronson did one of the coolest versions of "Day Tripper" ever. It was a little slower, and very slinky.
I had to add this one. I've never heard it until now, but it's infamous on the net. Gotta love Frank.
http://www.youtube.com/watch?v=0p3Ue3ncH3g
Metallica doing Thin Lizzy doing a version of a poem.
There's Whisky In The Jar. From John Ord's Bothy Songs and Ballads of Aberdeen, published in 1932. (date is a bit of a guess)
http://www.youtube.com/watch?v=Xu7hKeFKKO8
The Zoot : 'Eleanor Rigby
Zoot had Beep Birtles on bass, later of the Little River Band.
and Rick Springfield (Jesse's Girl fame) on guitar.
I guess they are probably only well known in Oz but its a good classic rock kinda version IMHO
http://www.youtube.com/watch?v=Q_3IUASoqfM
Always fun one for us to play.....Here's Poison (yeah!) covering The Romantics "What I like about you"
http://www.youtube.com/watch?v=zwAgFFicK9g
I always loved what the Dolls did to Stranded in the Jungle,
http://www.youtube.com/watch?v=3rpAJXWuIK8
which was a fifties hits by The Cadets (even though Screaming Jay Hawkins sang the original I think):
http://www.youtube.com/watch?v=5Mt9tqJMpkQ
A song that simply demands to be covered by The Nästy Häbits I believe.
Bad Brains did a reggae medley of ""Daytripper" and the Rolling Stones "she's a rainbow" back in the 80's
Blazer, you always come up with nice ideas!
This is just so classic- Jail House Rock
http://www.youtube.com/watch?v=nnboAZon61I&feature=related
My Sharona
http://www.youtube.com/watch?v=k6NIJ5r448A
Mr Roboto
http://www.youtube.com/watch?v=w9-_Ss4X8Ec