The yeastSaccharomyces cerevisiaehas a long and esteemed history as a model system for laboratory selection experiments. The majority of yeast evolution experiments begin with an isogenic ancestor, impose selection as cells divide asexually, and track mutations that arise and accumulate over time. Within the last decade, the popularity ofS. cerevisiaeas a model system for exploring the evolution of standing genetic variation has grown considerably. As a facultatively sexual microbe, it is possible to initiate experiments with populations that harbor diversity and also to maintain that diversity by promoting sexual recombination as the experiment progresses. These experimental choices expand the scope of evolutionary hypotheses that can be tested with yeast. And, in this review, I argue that yeast is one of the best model systems for testing such hypotheses relevant to eukaryotic species. Here, I compile a list of yeast evolution experiments that involve standing genetic variation, initially and/or by implementing protocols that induce sexual recombination in evolving populations. I also provide an overview of experimental methods required to set up such an experiment and discuss the unique challenges that arise in this type of research. Throughout the article, I emphasize the best practices emerging from this small but growing niche of the literature.