Playhouse

Noun

 * 1) A theater; a venue for performing plays.
 * 2) A toy house for children; a cubby house or Wendy house.

Thesaurus
Elizabethan theater, Globe Theatre, Greek theater, amphitheater, arena theater, auditorium, cabaret, circle theater, club, concert hall, cubby, cubbyhole, doghouse, hall, hole, house, little theater, music hall, night spot, nightclub, opera, opera house, outdoor theater, pigeonhole, pinch, showboat, theater, theater-in-the-round, theatron, tight spot, tight squeeze

Etymology
play + house