Originally in the singing penis scene, Michael C. Maronna's own naked penis was used with a CGI mouth added in. After being screened for the MPAA, however, the filmmakers were told to put a sock on it (literally).
During the "Three is the Magic Number" sequence, there is a shot of the boys performing on stage in tuxedos. Jason Schwartzman can be seen on the drums behind them. This scene was not actually shot for the movie, but, rather, footage from a photo shoot.
The original name for the movie was "The Undergrads", but it was changed to avoid any confusion with there being a movie of the popular MTV animated series Undergrads (2001)
The film was sold to Sony for distribution because the original distributor Destination Films went bankrupt.