This late-night clown show claims to be about "friendship, war, and cheating death" but is actually less violent than 500 Clown Frankenstein, which it follows. Certainly the story of two foolish friends who exhume their deceased companion only to watch in horror as he proceeds to inflict terrible injustice on the innocent could well be a metaphor for war's indiscriminate destruction. ("Every time! Every time!" laments one of the hapless resurrectionists.) But at the opening performance, the three members of Punch diluted their fable's impact with unproductive wordplay and horseplay, and failed to address a genuinely spontaneous event: a clown accidentally losing his red nose is in its way more shocking than the troupe's shopworn images of paranoia-fueled conflict. Through 10/29: Fri-Sat 10 PM. Then 11/12-13: Fri-Sat 10 PM. Loop Theater, 8 E. Randolph, 312-744-5667. $10; $20 for this show and 500 Clown Frankenstein (see separate listing).