Shakespeare the Bard Game looks like a lot of geeky fun. In it, you play an Elizabethan-era theatrical impresario collecting manuscripts. The product description says a game lasts about an hour and can be played by gamers 12 and up. It's not cheap ($40), so replay-ability would have to be a factor.
The Bard Game is also called Shakespeare the Board Game,
If you fancy card games more than board games, for $8, you can buy Shakespeare's Insult Playing Cards. For two dollars more, you can get Shakespeare's Quotes Playing Cards.
If you like playing with words, there's a Shakespeare edition of Magnetic Words to create your own epic poetry. For less than $10, your refrigerator can be the most erudite appliance in town.
Another great silly Shakespeare thing is a stuffed Shakespeare doll from Little Thinkers. Priced at $16.10, it's a little expensive for something so whimsical, but it's pretty great.
My all-time favorite frivolous frippery of a Shakespeare toy has to be this Shakespeare action figure (with removable quill pen!!!)