This episode starts off with a wrestling tournament being held at the Recreation Center in Bikini Bottom. Perch Perkins announces that the prize is one million dollars. Mr. Krabs overhears this and is very excited to get the money (which he implies is going to be easy). Mr. Krabs runs to the back of the line to defeat the two huge and strong fish known as the "undefeated world heavyweight champions." When he sees how badly people are getting hurt from trying to beat the champions, he has second thoughts on entering this wrestling tournament. He then has an idea of making SpongeBob and Patrick beat them.
He blindfolds them and drags them in front of the opponents. They try to figure out what is in front of them before they take off the blindfolds. The champions grab them and squeeze them 'til their blindfolds break. SpongeBob and Patrick are terrified by them and run away behind Mr. Krabs. He tells them that they are pretending to be heavyweight champions. Patrick quickly shows SpongeBob his behind to show him that he has been working out. Just to comfort them, he decides their names (SpongeBob is the Shurlor Boy and Patrick is the Pink Patty and together they are the Krusty Krushers).
SpongeBob and Patrick are announced to be the "fresh meat" of the champions. They get almost killed in every which way by their opponents (which includes being liquefied and thrown repeatedly). SpongeBob and Patrick soon fall asleep and (while they are unconscious) the opponents decide to kill them with their deadly finishing move. Mr. Krabs is scared that they will die and he won't get the million clams. At the last minute, SpongeBob and Patrick end up winning, thanks to Patrick's "Iron Buns" (which crack the champions into pieces).
Mr. Krabs is very excited, thinking the money is his but, there was another prize which was Wrestling camp, only to find, to his dismay, SpongeBob and Patrick choose to go to the wrestling camp instead. As a man uses a vacuum to suck all of the money away from Mr. Krabs, he turns into pieces as SpongeBob places the wrestling camp hat on him.
This episode has similarities to the Ren and Stimpy episode "Mad Dog Hoek." They are similar in that when SpongeBob tells Mr. Krabs he thinks the wrestlers want to hurt them, it is parodied to Stimpy telling Ren that he thinks that the Lout brothers want to hurt them, but tells him that they are just pretending to fight. Both of the episodes are like the same because the two episode's wrestling rounds are up to tag teams, and the weak team wins against the big and scary team.
In Rockstar Games' Grand Theft Auto 2, there is a district named Krishna Krushers. The episode's name could be also a reference to this.
The Royal Rumble is in fact a real wrestling event produced by the WWE. However, there are 30 wrestlers with one coming out every 90 seconds, the wrestlers must wear their opponent down and throw them over the top rope of the ring and both feet must touch the floor. The last one standing gets the #1 contender spot to face either the current World Heavyweight Champion or the Current WWE Champion at WrestleMania (another WWE Pay Per View event).
The two wrestlers resemble Undertaker and Kane, the "Brothers of Destruction," who are real wrestlers in the WWE Monday Night Raw and Friday Night Smackdown series.
After a viewer first sees Mr. Krabs laugh, his movement is suddenly skipped.
When Patrick was showing off his metal bottom to SpongeBob, his bandanna disappears suddenly, and returns after Patrick gets up, and it vanishes again when Patrick and SpongeBob tell the microphone guy that they are there to fake wrestle.
When Patrick gets a paper cut, he cuts his right arm, but sucks on his left.
When Patrick and SpongeBob are spinning in the air and get shredded into pieces, SpongeBob is wearing his regular clothes, instead of his wrestling uniform.
Two wrestlers are easily injured (they are vertebrates), but both SpongeBob and Patrick are not, because both are invertebrates.
The crowd mainly consisted of duplicates of one character (such as seeing five Freds in one shot).