GO:0070836

The aggregation, arrangement and bonding together of a set of components to form a caveola. A caveola is a plasma membrane raft that forms a small pit, depression, or invagination that communicates with the outside of a cell and extends inward, indenting the cytoplasm and the cell membrane. [GOC:BHF, GOC:mah, GOC:vk, PMID:12633858]