I think Floyd is Paul cause they're both lefty bassist and pink floyd for beind pink and named Floyd Animal. I thought was based of my boy Keith Moon both very wild but animal never did drugs and is unaturally un sober butn Keith was a great drummer and I take after his work in my drumming. Zoot has to be Clerence Clemens with being a rock saxophonists. Janice is probably Janis Joplin men similar voice and also a lady guitarist Dr. Teeth now he's tough and I don't know what to say
As far as I know the band was based off many rockers of the time and the band in a mix of all of them. More specificly here are the known influences for the characters. Mainly they are mixtures of many rockers and current rock stereotypes.
Dr. Teeth - based off of Dr. John.
Animal - based on Keith Moon, drummer of The Who.
Janice - First designed as a male inspired by Mick Jagger, lead singer of the Rolling Stones; but changed to female to to add more female characters to the Muppets and to salute the women rockers of the time.
Floyd Pepper - based off Sgt. Pepper from the Beatles (Name based off Sgt Pepper of the Beatles and Pink Floyd).