I lived at Yonge & Eglinton for 3 years and it wasn't until my 2nd year in that I discovered The Cupcake Shoppe. I'm surprised I didn't notice it sooner. The space is small... 500 sq ft give or take. The display window is magical with whimsically decorated cupcakes fashioned to look like little animals, ladybugs or other animate objects. You can not see the displays without taking a peek inside.
Two words: Real Buttercream. This is probably why I love this place so much. You will find these little pieces of heaven perfectly topped with different flavors of not-too-sweet buttercream. My favorites are: Creamsicle, Crummie and After Ate.
I live in Manhattan now... fabled land of the best cupcakes. I would skip them all for a Young & Eligible cupcake!
Tip: Sometimes they close before their actual closing time if they run out of cupcakes and you will be greeted by a sign telling you to come back another day... which happens more often than not.