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It is theatre that deals with the illogical and irrational aspects of life, to emphasize its innate pointlessness. It's time and identity of characters that are usually vague or ambiguous in such plays. It's dreamy and scary and much of the dialogue is repetitive and, well, absurd.
Waiting for Godot is the very epitome of this. Two guys are waiting for this other dude, Godot, whoever he may be. Their conversation is strained. The play takes place over two days (and they have already been waiting). The characters flow into one another and sometimes seem to shift characteristics (or hats). Moreover, the play is indeed very repetitive. The second day is a lot like the first, but absurdly enough the characters don't seem to remember that day before (creating the suggestion of an endless string of days of waiting for this Godot).
my own earlier answer