This is an old-school, father-son barber shop less than a block from Keele Station. From the time they welcome you as you enter until they help you with your jacket as you leave, Benny and his son are both friendly/courteous and provide good cuts at a great (cash only) price. If you're in the mood to talk, they'll discuss a wide range of topics, and if you're not, they'll let you sit in peace. Walk-ins only so the wait time might be between 0-30+ minutes depending on when you go.
When I moved to Toronto last year, I learned the hard way that there are plenty of places to overpay for mediocre cuts in this city. If, however, you want friendly, good-quality service for a very reasonable price, head over to Benny's.