Figured I'd start a thread since the only mentions of this place are in other threads.
It's a new taco joint owned by Azul Tequila that specializes in slow cooked guisadas.
I've gone to El Papalote twice this week. Very good but some room for improvement. There's about 10 guisada taco fillings to choose from. I've the pork in a pipian sauce, another pork in a spicy sauce, a turkey in a sweet green sauce. I also had an alambre taco (grilled steak) which was dry and bland. All the guisadas I've had are great and a huge change of pace from standard taco places where usually the only slow cooked options are barbacoa and carne guisada. There's two salsas provided, green and red. Both are unique and definitely not like any others I can recall in town. Both are good. Lunch plate special of 2 tacos, rice, good refried black beans, and a tea is $6.50 or $7.04 after tax. Good deal. The only drawback is the tortillas. Standard Austin store bought flour and corn tortillas. There's not much room back there to make em homemade so maybe that's why they don't. Overall, I'll definitely go here for lunch every week or two. There's other items on the menu but I don't remember what they are.