The actual name is The Legendary Horseshoe Tavern. It should be - it's seen performers like the Ramones, Los Lobos, the Police, the Stones (live on MTV!), and every popular Canadian act in the last decade has played here. It's a fairly jovial atmosphere for a place so storied.
Currently most of the performers are of the indie variety, though the 'Shoe has gone through Country (obvious from the name) and punk periods. It has long been a bastion of the Toronto (and Canadian) music scene. Lately it's been the venue of choice for secret bookings, but word spreads fast.
The 'Shoe also seems to get "most favored" status during festivals like North by NorthEast and Canadian Music Week, especially on Saturday nights. Even on a slow night, there's something about leaning on a bar that so many music legends have also leaned on - it's like being a part of music history. Wear earplugs!