October 12, 2015 12:48 PM

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Like inside-jokes, booze and Will Ferrell movies? You’re in luck.

The first ever Will Ferrell-themed bar — that’s right, a bar inspired by the comedic actor — opened October 1st in New York City’s Lower East Side neighborhood.

The new spot, called Stay Classy New York, offers an impressive list of artisanal cocktails, all based on jokes from Ferrell roles in Saturday Night Live, Anchorman, Talladega Nights: The Ballad of Ricky Bobby, Old School and more.

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Zach Neil and his business partner, Brian Link, had always wanted to open a bar together … and a Will Ferrell-theme just made perfect sense.

“In business, there’s always a chance that you lose your money and fail, so we said we might as well do something that we think is funny and represents what we love that way if we lose we can still laugh about it,” Neil tells PEOPLE. “Will Ferrell movies are our favorite — we love the man and his work — so it was easy for us to create this landscape of ridiculous things and theme it accordingly.”

For example: A Whale’s Vagina ($12), comprised of vodka, triple sec, orange juice and gin, is a nod to the scene in Anchorman when Ron Burgundy tells love interest Veronica Corningstone that “San Diego” comes from the German word for “a whale’s vagina.”

All of the cocktails — like Milk Was a Bad Choice, You’re My Boy Blue! and Smelly Pirate Hooker — span Ferrell’s lengthy career. (We should also add that the bathrooms are labeled “F-Shack 1” and “F-Shack 2,” a nod to his film with Mark Wahlburg, The Other Guys)

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There’s even a whole wall devoted to Ferrell-inspired art.

“There is an entire proper art gallery commissioned my local and national artists whom have painted sculpted and drawn custom art for the Will Ferrell character theme gallery,” Neil tells PEOPLE.

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We’re personally dying to try the Did We Just Become Best Friends? ($10), described as “two house shots, one for you and one for a friend. You can also leave a shot for a friend to redeem at a later date.”

—Maria Yagoda, @mariayagoda

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