I need a copy of "The absent minded waiter" staring Steve Martin, Teri
Garr and Buck Henry. Havn't been able to find it anywhere. I remember
seeing it many years ago, I think on one of the Best of Saturday Night
Live video tapes. I need someone to find me a copy that I can buy
online or over the phone, preferably on DVD but VHS will do. Must be
under $50.

Greetings. I believe I qualify to answer your question, since I've
been known to get VERY small, especially when my cat embezzles from
me.

"The Absent-Minded Waiter" is included on a VHS collection called
"Steve Martin Live!" It's a great tape.

"Steve Martin Live! 
 Comedy, 58min 
 1979 
 Teri Garr, Alan King, David Letterman... 
 
Culled from a 1979 comedy concert, this sampling of the Wild and Crazy
Guy at his wildest and craziest may be familiar to his older fans, but
is well worth another go-round. 'Happy Feet,' 'King Tut,' the arrows
and the bunny ears are all in attendance; by this time, Martin's
catchphrase and stock routines were so familiar that audiences began
laughing before they even occurred, sometimes shouting the lines in
unison just as Martin opens his mouth. The video is rounded out with
Martin's Oscar-nominated short subject, The Absent Minded Waiter."

MSN Entertainment: Steve Martin Live!
http://entertainment.msn.com/movies/movie.aspx?m=143638

Here are some used copies offered for sale online:

Half.eBay.com: Steve Martin Live!
http://half.ebay.com/cat/buy/prod.cgi?cpid=1960765&pr=3134038

Half.eBay.com: Steve Martin Live!
http://half.ebay.com/cat/buy/prod.cgi?cpidEQ1960767AMPdomain_idEQ1877AMPmeta_idEQ3

eBay: "Steve Martin Live" 
http://cgi.ebay.com/Steve-Martin-Live_W0QQitemZ6421996716QQcategoryZ309QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

There was a laserdisc edition in the '90s, but it appears that no DVD
of this particular collection has yet been released.

My Google search strategy:

Google Web Search: "steve martin live" vhs OR dvd
://www.google.com/search?hl=en&q=%22steve+martin+live%22+vhs+OR+dvd 

I hope this is precisely what you need. If anything is unclear or
incomplete, please request clarification; I'll be glad to offer
further assistance, and will even simulate having an arrow through my
head if desired. ;-)

Best regards,
pinkfreud

Wow lightning fast and exactly what I asked for. $5 tip for instant service

Thanks for the five stars and the nice tip! 

~pinkfreud