The Yale Cabaret is part of the well-known Yale Drama School. It is located in the basement of one of the Yale Buildings. They do a wide variety of productions -- from musicals to new plays. Most of the actors come from the School of Drama -- so the acting is usually top quality. It is more of a dinner theatre with tables and chairs as opposed to traditional seating. Drinks and food are reasonably priced and good. The downside is that it can be crowded and sometimes warm -- but if you're looking for something different -- try it. They do quite a few production throughout the year and admission is very reasonably priced.
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