The University is the shape of a college hat. It appears to be made of black brick. It has a porthole above the front door with what appears to be a bell hanging in the center. The bell is a couple of keys.
I can turn into a skyscraper!
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In it's appearance in Salsa Imbecilicus, Sandy and Karen run the university to re-teach the people of Bikini Bottom after they all got rained on by the Salsa Imbecilicus. It is unknown if Sandy and Karen built the university or if it was an active one before the salsa imbecilicus incident.