In 2003, the theatre was created by director and artist Anna Viktorova with the support of director Timur Bekmambetov. For the first ten years, the project did not have its own site, but in 2013 it acquired its own building. The theatre’s repertoire comprises more than 15 performances such as "The Scarlet Flower", "The Nutcracker", "Ptifura", "Robin-Bobbin". They regularly become laureates of Russia’s prestigious theatre awards "Golden Mask" and"Golden Soffit".

The theatre's productions are filled with irony, humor and philosophical meaning. The “Puppet Format” team wants young and adult viewers to develop and discover something new. Classical works are reinterpreted and performances based on modern plays are staged here. The theatre team positions itself as a creative community of people for whom the puppet theatre is avocation.