The phrase is quite casual and best suited for informal conversations or creative writing. I'm going to tart up for the party tonight.
Pro Tip 2/3
Moderate Changes
'Tart up' suggests moderate, often superficial improvements rather than complete overhauls. Just tart up the costume with some glitter, and it'll be perfect.
Pro Tip 3/3
Temporary Fix
The improvements made are usually temporary or for a special occasion. We need to tart up the guest room before they arrive.