The legend goes that Slash & Sorum were jamming in Slash's home studio (known as "The Snakepit" due to the guitarist's fondness for snakes, and the studio being in proximity to his pets) with a view to working on new GN'R material. Soon, Gilby Clarke (rhythm guitar in Guns at the time) was joining them and contributing ideas. They demo'd songs together, which Slash apparently overdubbed some bass parts onto. In some cases, GN'R bassist Duff McKagan also contributed ideas and he is credited as having co-written "Beggars & Hangers-On".

According to Axl Rose, in a 1999 interview with MTV's Kurt Loder, these songs were offered to the rest of Guns N' Roses as prospective future material, but were flatly turned down by Rose.

Slash recruited Alice in Chains bassist Mike Inez to complete the musical side of the group. Gilby Clarke's drummer, Mark Danziesen, suggested Dover as vocalist, and after passing the audition, he joined the quintet to complete recording of what would become "It's 5 o'clock Somewhere".

Up to this point, Slash had always been publicly quite "anti" a solo record, claiming he had no need for one whilst Guns was in action. In promoting this album, he remained pragmatic in statements that it wasn't "really" a solo album, just a project that had come together by accident, and morphed into another band which was now keeping him busy whilst Guns was on hiatus. He is also on record as stating that he wanted the band to simply be called "Snakepit" - after his home studio, but the record company insisted they add his name to it to help increase sales. Hence "Slash's Snakepit".

With a title taken from a passing comment made by an airport attendant, and artwork provided by Slash's brother, Ash Hudson, the album was released in March 1995 during a period of downtime for Guns N' Roses.

Shortly after the album's release, a local all-girl San Diego band named simply "Snakepit" filed a trademark infringement lawsuit against Slash to limit his use of the "Snakepit" name. The lawsuit was settled on confidential terms.

Frustrated by Guns' inactivity & Axl's ever erratic moves, not to mention a certain amount of pressure from Geffen to promote the album, a six-month tour was arranged. Clarke, Slash & Dover remained the only members of the recording line up to tour, with Inez committed to Alice in Chains, and Sorum agreeing to stay behind in the GN'R camp as a compromise to placate the angered Rose, who saw this side project as an act of defiance from his lead guitarist. (Gilby Clarke had already been fired from the band - by Rose - at this point). James Lomenzo & Brian Tichy filled their shoes for the ensuing tour.

Once off the road, the group soon disbanded, as it was - after all - only a side project for all involved.

Eric Dover went on to form Imperial Drag with Jellyfish keyboardist Roger Manning, Slash returned to the GN'R fold & Clarke went on to record more solo albums.

In '96, however, Slash left Guns citing an inability to continue working with Rose (McKagan & Sorum left the following year) and went on to cobble together various projects - including the "jam

The group was formed in March of 1985 by Hollywood Rose members Axl Rose (vocals), Izzy Stradlin (rhythm guitar), and L.A. Guns members Tracii Guns, Ole Beich (bass) and Rob Gardner (drums).[5] The band took their name by combining the two original groups. Their first performance took place on March 26, 1985.[6] Ole Beich quickly left the group and was then replaced by Duff McKagan. A short time later, guitarist Tracii Guns left the group to reform L.A. Guns, and was later replaced by Slash, who had known Rose and Stradlin during a short stint in Hollywood Rose. The new line-up came together quickly , and after Gardner quit and was replaced by Steven Adler, the band established its first stable line-up. It wasn't until June 1985 when the band went on what they dubbed the "Hell Tour" from L.A. to Seattle, that their comaraderie as members of Guns N' Roses really solidified. According to an interview with SuicideGirls.com, Slash insists, "That [trip to Seattle] is really what cemented the band" and established its chemistry