The six segments are directed by Douglas Buck, Buddy Giovinazzo, David Gregory, Karim Hussain, Tom Savini and Richard Stanley.

A puppet host (or Guignol) introduces six short films: "The Mother of Toads", "I Love You", "Wet Dreams", "The Accident", "Vision Stains" and "Sweets".

Of the six segments, "I Love You", "Wet Dreams" and "Sweets" match the Grand Guignol genre: physical or psychological conte cruel horror with natural explanations, cynical, amoral, ironic, sexy, or gory in combinations.

In "Wet Dreams" a man relates to his psychiatrist recurring nightmares about torture and castration often at the hands of his wife whom he has betrayed and abused.

[5] In an excerpt from the July 17, 2011 Fangoria review of the film, written by Michael Gingold, he says, "The many different flavors and tones in The Theatre Bizarre, courtesy of the many distinct talents who took part, means the movie ought to inspire lively debate among fans as to their favorites among the assorted stories.

Coffman did however praise Douglas Buck’s The Accident as being the strongest segment in the film, calling it "a beautiful piece of work".

[9] Jason Buchanan from TV Guide gave the film 2/5 stars, writing, "Though it’s difficult to recommend The Theatre Bizarre as a whole, at least three of the featured segments are strong enough to warrant a look from devoted horror fans, with one among them standing out as a mini-masterpiece that transcends the genre altogether.

"[10] John Anderson of Variety gave the film a mostly positive review, writing, "Deviant, demented and occasionally delicious, The Theatre Bizarre offers a hallucinatory flashback to the heyday of omnibus horror while also making a statement about the art... Not every installment here may be as good as the next, but each has its hideous virtues, which may help the project slip out of the specialty straitjacket and shroud itself in crossover appeal.