- Tom's friendship with Al Franken nearly ended for good in the early 1990s, but in the Star Tribune, Oct 18, 2003, he claimed, "I still love Al Franken like a brother," going on to say, "I'm happy for his success. He's always been able to piss people off; now he's finally directing it at the right people. If he wants to come up and get a barbecue going, it's an open-ended invitation." They reconciled in 2001, and Franken frequently invited Tom to appear on the "The Al Franken Show" on Air America radio, where, among other characters, he portrayed a Native American who insisted that his tribe's beliefs ought to be taught alongside creationism in Christian-minded schools.
- In the final months of Davis's bout with cancer, Davis referred to death as "deanimation", an allusion to his friend Timothy Leary, who used the term extensively 1995-1996 in the months leading to Leary's own death.
- Tom Davis m. Mimi Raleigh 1991, and she separated from him in 1999. She reestablished her claim as his wife shortly before his death. She was a veterinarian of Mt. Kisco, NY, where she resided for many years, apart from Davis after their 1999 separation.
- In a June 8, 2006, appearance at the State Theatre in Minneapolis, together with Al Franken, Davis did a live performance featuring a sketch in which he impersonated a Jack Daniels Distilleries executive, Frank Wade (or some similar name), who was invited to speak about "what to do if you're drunk and you absolutely have to drive." Davis says, among many other satirical lines, "If I had to be in an car crash, I'd rather be drunk." Franken looks at the audience and says, in a subdued manner, "I can't fight that logic, I guess.".
- He was half of the comedy team "Franken and Davis," founded with Al Franken in high school. Their specialty, especially on Saturday Night Live (1975), was political satire.
- In 1975, Franken and Davis were hired by Lorne Michaels to fill a single apprentice writer slot; they split one salary of $350 per week.
- In his rural Hudson Valley home in upstate New York, he used objects like stones and old wooden barn doors to create offbeat sculptures.
- He claimed that he enrolled at the University of the Pacific in Stockton, CA because it had a study program in India where Davis planned to go and smoke opium. He did that, and continued frequent drug use through much of his life, including using LSD for the first time while at a Minneapolis drive-in watching '2001: A Space Odyssey (1968).' In his last two years, Davis also helped a friend write a book about Owsley Stanley, a famed advocate of LSD.
- Was in a relationship with fine art photographer and actress Lindsay Brice from 2001-2012.
- Attended the Blake School in Hopkins, Minnesota with fellow Saturday Night Live writer-producer Al Franken and Paul David Stark the co-founder of Twin/Tone Records.
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