Learn French: Je voudrais le menu, s'il vous plaît. - I would like the set menu, please.

Je voudrais means 'I would like'. Just like in English, saying 'I want' (Je veux) can sound a bit demanding or blunt to a waiter. Using Je voudrais is the standard, polite way to request something in French.

The English translation says 'the set menu', but doesn't le menu just mean the piece of paper with the food list?

In French restaurants, le menu usually refers to a fixed-price meal deal (like a set starter, main course, and dessert). If you want to look at the physical booklet or board to choose individual dishes, you actually need to ask for la carte.

What do the individual words in s'il vous plaît literally mean?

It literally translates to 'if it pleases you'. It is made of si (if) combined with il (it), followed by vous (you) and plaît (pleases). Together, they make the formal French phrase for 'please'.

Could I say s'il te plaît instead to say please?

Because you are ordering in a restaurant and speaking to a waiter you don't know personally, you must use the formal or polite 'you' (vous), making it s'il vous plaît. You would only use s'il te plaît if you were talking to a friend, a family member, or a child.