Robin Hood: Men in Tights (1993)

Robin Hood (right) (Cary Elwes) and Ahchoo (left) (Dave Chappelle)

20100707:
I love most of the movie's anachronisms. They fit particularly well in a movie that is over-the-top in all respects. I would note, however, that most of the humor is just inside-the-head funny as opposed to laughing-out-loud funny. In fact, there was only one scene for which I gave a chuckle and that happened during the wedding scene.
For some parts in this movie, namely the rapping sequences, I could have benefited from watching the movie with caption.

Prince John (Richard Lewis) and the Sheriff of Rottingham (Roger Rees)

The Wikipedia article mentions how director Mel Brooks includes references to his older films and spoofs other Robin Hood movies.

Overall, while not a great film, I find Robin Hood: Men in Tights worth watching at least once.

[20140609 Edit]

20140609:
In contrast to my previous viewing, today I was chuckling for more than just one scene throughout the movie.

Maid Marian (Amy Yasbeck)

I would slightly improve on my earlier recommendation, saying that if you enjoy Mel Brooks's style of humor, then you will surely enjoy Robin Hood: Men in Tights. For those who have not yet seen a movie directed by Mel Brooks, then I would recommend Robin Hood: Men in Tights to those who enjoy watching comedies. Overall, Robin Hood: Men in Tights is a good film and worth watching at least once.

Instant Comments:
2: "There must be another way to do the credits."
2: References King Kong (1933) (1976) (2005).

Blinkin (Mark Blankfield)

2: "Great strength of feet."
2: "Who possesses a key to my..." [looks down] "...heart."
2: Haha. "You want certain, hire yourself a witch! Me, I'm just your cook."
2: Changed it to Latrine. "Yeah, used to be 'Shithouse.'"
2: "Abe Lincoln."
2: "It's the principal of the thing."
2: Will Scarlet O'Hara. "We're from Georgia." References Gone With the Wind (1939).

Broomhilde (Megan Cavanagh) and Marian

2: "Man, white men can't jump." References White Men Can't Jump (1992).
2: "What a smoothie, he's definitely a smoothie."
2: "Because, unlike some other Robin Hoods, I can speak with an English accent." Reference to Robin Hood: Prince of Thieves (1991).
2: Ha! Picks up the gauntlet.
2: I thought 'gross,' but Robin says "That's disgusting." (lend me your ears)
2: Hehe. Bubbles.
2: "I have a mole?"

Little John (Eric Allan Kramer) and Robin Hood

2: Hehehe. "I touched it."
2: Mel Brooks! (Rabbi Tuckman)
2: "You Prince of Thieves, you."
2: References/Spoofs The Godfather (1972).
2: References On the Waterfront (1954). "I coulda been a contender..."

2: Hahahahaha. "Go like this." [click-cluck-click-cluck] "He can't do it! I love to tease him."
2: "We'll make him an offer he can't refuse."
2: "Let me see the script." A similar bit was done in The Muppet Movie (1979).
2: A lifesaver!
2: The toilets shall be known as Johns.
2: References Blazing Saddles (1974).