This is another one of those things you just have to do in NYC, food-wise, anyway - try the hot dogs at the places with papaya in their name. Most folks from outta town also try the papaya drink - once.
These are expensive hot dogs - a single dog right now id 50 cents - two dogs and a drink is only $2.50. These dogs are smaller than most dogs you'll find elsewhere, and they've done this to keep'em cheap - they were once the standard size. They have a variety of toppings, including chili, which is a little thin, but has some flavor. The cooked onions and kraut together with brown mustard is a good combo. No seating, but these small dogs don't take long to finish.
A hot dog for 50 cents. Wow.