Guys,
I thought I'd add to this discusssion as I've just recently completed a lot of tank work.
Agreed... Duct tape won't work for you. I used a 'freeze plug' that I bought for cheap at a swimming pool supply store. I saw the nice red pipe plugs in Lowes (shown earlier), but I didn't think the 2" plug would work in my tank opening.
I had to make something to plug my tank's lower opening. I fabricated a 'plug' using wood, 6mm screws, washers and gasket material from Lowes. My bike is a CB 750 and the lower opening on the tank has two threaded holes for attaching the petcock and a central hole that the petcock assembly is inserted into (three holes altogether). The gasket material did the sealing. I found the sheet of gasket material in the plumbing section at Lowes as well.
Overall, my plug worked great. It was easy enough to put on/off and *nothing* ever leaked.
Here's a few pics of what I used while working my tank...