Lady Elliot has two places to eat. One is an open air "bistro." They have a walk up counter to order. You can get salads (tuna salad was very good), sandwiches and the like. They have beer and sodas. (They had exotic mango & other fruit sodas here that we found nowhere else in Australia.) They also have Streets ice cream bars which are HEAVENLY. Way better than ANY ice cream bar you'll get in the States!! (Actually these are available all over Australia, but they're so good, I had to mention.)
There is also a restaurant & bar that serves breakfast & dinner. These meals were included in the $200 we paid for the three of us in the room. These meals are buffet style and were surprisingly tasty.
There is a pool table in the bar. Every night they have happy hour with a free drink for new arrivals. The mood is laid back and festive.