Ah, yes, we first heard about this happy hour play at Mandalay Bay's Red Square back in November of 2008 and we're pleased to relate that it's still going strong. This is a decent play if, like us, you enjoy vodka and caviar. It's not cheap -- nor is the deal as good as it used to be -- but it's still a decent play and definitely a fun way to start the evening.
Here's the deal: From 4 p.m.-6 p.m. daily, with the purchase of four (when the promo started it was two) Imperia vodka cocktails you receive a complimentary ounce of Petrossian paddlefish roe with a complete caviar set-up: blini, toast points, crème fraîche, diced onion, chives, and chopped egg. At $65 an ounce, this American caviar is the cheapest on the menu (the Pure Gold Caspian Osetra is $250/ounce), but it makes for a delicious pre-dinner appetizer and the drinks here are very generously poured and strong (i.e., we don't recommend attempting CaviHour solo -- the qualifying rule for the comped caviar is four drinks per check, not per person). At $16-$18 a pop, it's certainly not the cheapest happy hour in town, but it's a nice treat if you're feeling a little decadent. Red Square's signature bar, made out of a solid block of ice, keeps your drink deliciously cold, too. We recommend you get there early, since places at the bar tend to fill up pretty quickly for CaviHour.
As to which drinks we recommend, we're pretty classic when it comes to our martinis and stick to vodka and vermouth with olives or a twist. With over 100 types of vodka and infusions to choose from, Red Square is known more for its cocktails than its food (we've never eaten a meal there, but have heard mixed reports), with popular choices including the signature Red Square Martini, Bloody Mary, "Chernobyl", White Russian, and veggie-infused Absolut Peppar. If anyone out there in QoDland has any personal favorites and recommendations, please let us know (name of cocktail and ingredients) and we'll add them as updates to this answer.