The episode begins when SpongeBob and Patrick are getting a tan. Suddenly, Larry the Lobster comes riding in on a motorcycle, kicking up sand in SpongeBob's and Patrick's face. However, everyone cheers for Larry and soon, they talk to him. Larry says he's a professional daredevil who loves to live life to the fullest. Then Larry points out that SpongeBob and Patrick are big scaredy cats and need to be more like him. Larry drives away leaving Patrick in deep thought.
The next day, SpongeBob and Patrick are blowing bubbles, when Patrick says that their lives are boring, and that they need to live like Larry. Patrick then jumps on a seahorse, which bucks him off and severely injures Patrick. Meanwhile, SpongeBob is riding a kiddie ride at the grocery store. Later that day, Patrick kicks down SpongeBob's door, and drags him to the junkyard. Patrick then jumps in a boat going on the conveyor belt. The boat (with Patrick inside) is then crushed by the junkyard crusher, while SpongeBob only watches in horror as Patrick is slowly crushed.
Even later that day, Patrick breaks down the door again (still inside the crushed car) and pulls SpongeBob to the outskirts of Bikini Bottom to a deep canyon next to the canyon is a long board leading to the bottom, which Patrick says he will skate down. He tells SpongeBob to join him, but SpongeBob says that going down the ramp would be stupid, and would certainly kill them. Patrick shrugs and calls SpongeBob a chicken. Patrick then skates down, and flies right into the mouths of several hungry monsters, Patrick's fate is unknown.
The next day, SpongeBob is working at the Krusty Krab, when Patrick (who apparently survived the monster attack) is running towards the restaurant, trying to get away from five mad bikers (Possibly the Wild Ones). He tells SpongeBob that he was right, and that he would never try such stupid stunts again. When SpongeBob goes outside to talk to the bikers, he knocks down their bikes. SpongeBob and Patrick run down the street, and SpongeBob gets a rush of adrenaline. SpongeBob shouts that he's living like Larry, and is now obsessed with daredevil stunts. The bikers hit SpongeBob with their bikes, sending SpongeBob flying into the air.
Later that day, SpongeBob and Patrick are on the beach again, but this time on a giant arrow aimed towards hundreds of sharp rocks (Ripper's Reef). Patrick worries that they will get hurt, but SpongeBob prepares to cut the rope anyway. Meanwhile, Larry notices what they are doing and races to stop them. But Larry is too late, SpongeBob cuts the rope and they fly towards Ripper's Reef. Larry hooks a rope on the arrow, and is pulled up too. SpongeBob shouts with glee, while Patrick and Larry scream. They slam into Ripper's Reef at full force, and all are impaled with the rocks.
Later at the Bikini Bottom Hospital, Patrick and Larry are put in full body casts, while SpongeBob is put in a wheel chair. SpongeBob says that it's time for his next stunt, and asks "What would Larry do?" Larry gets mad and chases SpongeBob out of the hospital.
The line 'What would Larry do?' parodied the popular Buffy the Vampire Slayer catchphrase 'What would Buffy do?', which itself is a parody of the phrase, "What Would Jesus Do?"
When SpongeBob is on the huge spear, he is wearing his swimsuit, but when they show a close up of Patrick, you see SpongeBob's regular clothes, but when they show the whole spear again, SpongeBob is wearing the swimsuit again.
SpongeBob appears to knock over many motorcycles, yet only 6 were circling him.