Clone the repository as normal:
git clone git://github.com/rspec/rspec-tmbundle.git RSpec.tmbundle
Then checkout the tag you want like so:
git checkout tags/1.1.4
This will checkout out the tag in a ‘detached HEAD’ state. In this state, “you can look around, make experimental changes and commit them, and [discard those commits] without impacting any branches by performing another checkout”.
To retain any changes made, move them to a new branch:
git checkout -b 1.1.4-jspooner
You can get back to the master branch by using:
git checkout master
Note, as was mentioned in the first revision of this answer, there is another way to checkout a tag:
git checkout 1.1.4
But as was mentioned in a comment, if you have a branch by that same name, this will result in git warning you that the refname is ambiguous and checking out the branch by default:
warning: refname 'test' is ambiguous.
Switched to branch '1.1.4'
The shorthand can be safely used if the repository does not share names between branches and tags.