I've always been a big fan of Abbot and Costello's routine "Who's on First". The complete episode of that particular radio show is full of great puns and misunderstandings.
Salesman: This bat was made for Slaughter.
Costello: Ain't you got one that was made for baseball?
But the primary routine is amazing. The timing and the lines. I can remember two guys in middle school translating and performing the whole skit in Spanish. One of my favorite Animaniacs skits is Slappy and Skippy doing "Who's on Stage?"
Then today I found a list of variations of "Who's on First?".
First is the grammarians version.
And then the Shakespearean version. I would love to see this performed at a Renaissance Faire.