HELP! NEED CIRCUS PARTY IDEAS!?!

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Splurge on the big things like food and don't be such a cheap-o but if you have to, make things yourself go to Joanne Fabrics and buy boas and masks and such. If you can get an overhead projector to play circus videos from the 1920s. Add Nostalgia

What Vadeville was and how the term Vaudeville is abused circa 2011 might be a stumbling block.
That said I will make some rude assumptions about you and your friends. They have talent even if they hang their collective heads and say, "i can't do nothing."

First up your loudest most out there personality to serve as Emcee / master of Ceremonies, they will keep party moving along.

Going along those lines: assembled a dozen each of the following objects - - - standard rubber balls; dozen cardboard boxes a bit bigger than palm sized; oranges; bananas; biggest possible grapefruits; and maybe just maybe twelve objects the size of a Thai watermelon.
Yea, you probably have this figured out; Have a Juggle-Off - - - - Emcee calls for contestants, try to get a minimum of 4/four at a time. Depending on how talented your friends are, you can go for the simple - - - who can juggle three items to longest and if it gets to the five minute mark and at least two are still juggling, then call it a draw and move up bigger objects. Can also do different sized objects; Also juggle the bananas, who can peel and eat a banana fastest etc and etc....

Naturally you can also have a Song Contests.

Now one way you can stretch out the fun with music - - - and somebody in your circle has gotta be able to play guitar - - - Is the Have the Emcee start off Song with a Lyric (and good to film this one), for example, "Love, Love on the Rocks, When He Broke Her Heart," and the microphone gets passed to a person who must contribute a lyric and so on and so one - - -

Vaudeville in its prime was a series of entertainers providing seven to fifteen minutes of their specialty: usually a mix of music, song, dance and comedy.

Again, using your Emcee as chief egger on; have a dance off; also a joke off, any number of fifteen minute bits to show off your groups talents and keep the party moving.

Peace///////////\\\\\\\\\\\\\\\

wW

Fancy dress, talk to the venue (they do this every day) Ask a few few sellected guessed for ideas. No cash, doesn't matter, get the guests to make the effort.