It is a small Krabby Patty with a face that has small pickles for eyes, ketchup for pupils and a smile, and little antennas on it to make it look like a cute bug. It comes in the Krusty Kids Meal and includes a bib and high chair (Although the bib and high chair were most likely a joke by Squidward).
The Pipsqueak Patty costs more even though it's smaller than a regular Krabby Patty.
Role in series
"Mermaid Man and Barnacle Boy V"
It is served to Barnacle Boy by Squidward as if he were a little child. Everyone in the restaurant surrounds him and starts to laugh and make fun of him. Barnacle Boy refuses to eat it because he thinks he is too old to be eating "immature" food that is really meant for children. This is also one of the reasons why Barnacle Boy becomes "evil" in the episode.
The Pipsqueak Patty reappears as an unlockable food item that can be cooked at the Krusty Krab. One patty, one head of lettuce, and one bun are needed in order for two Pipsqueak Patties to be made. They take two minutes to make, give 6 happiness when collected, and give 31 coins when fed to a Bikini Bottomite.