Sources say the Hole rocker began 'yelling random remarks' at guests at a fundraising auction for film director Paul Haggis' Artists for Peace and Justice foundation in New York.
She then vanished backstage, where she was found in the dressing room of band The AXIXS.
The group - which includes former Fugees star Pras Michel - were stunned when they saw Love 'rummaging through their purses [handbags]' in their dressing room.
The New York Daily News reports: 'Instead of looking embarrassed, a wild-eyed Love turned to the performers and asked if they had any makeup for her to use.'
She then continued to empty the women's makeup bags and 'pick out what she wanted', a source said, before walking out, leaving the makeup scattered on the floor.
The bandmembers ended up throwing everything out 'for hygienic reasons'.
A representative for Love, 46, was unavailable for comment.