Incremental sheet forming (ISF) produces 3D components imposing localized deformation by spherical-ended tool moving on a predefined path without requiring component-specific die/punch. The formability achieved in ISF is much higher than the conventional sheet forming processes; however, the deformation imposed during ISF alters the mechanical properties of the component. The present work investigates the tensile behavior and strain localization during the uniaxial tensile test of the AA6061-T6 component after single point incremental forming (SPIF). The influence of incremental depth (Δz) and tool diameter (dt) on the tensile response and strain localization is illustrated by a digital image correlation setup with two cameras. The tensile strength of SPIF components increases with Δz and mildly decreases with dt. The changes in scallop heights/undulations formed due to tool movement at higher Δz and dt influence the localized strain accumulation. Regions of localized strain are more when Δz is high, but strain accumulation is more even with an increase in dt. Texture analysis showed increased dislocation density due to the strain hardening after SPIF. The presence of brass {011}<211>, copper {112}<111>, and S {123}<634> texture indicates the plane-strain deformation in the wall region of the component formed by SPIF.