The Krusty Krab Playset is a play set that SpongeBob plays with in the episode Bummer Vacation. It also has a mini version of it inside of it that's exactly like it except for the size difference.
Appearance
It looks exactly like the regularKrusty Krab . It is unknown if it's made of metal, wood or plastic.
Invisible Characters
The action figures inside are SpongeBob, Patrick, Mr. Krabs, and Squidward. For some reason, SpongeBob's facial expression changes.
Real Life Version
A real life version was made by Smyths Toys according to a Youtube video.