SpongeBob and Patrick go to the Palace of Pranks, a prank store in search of the ultimate prank. To their delight, the manager named Frank sells them a rare can of invisible paint for just one dollar. Before they use it, Patrick remembers that the paint will stain clothes, and then he and SpongeBob take their clothes off so they are not stained with the invisible paint. They decide to spray a park bench and sit on it but get in an argument over who gets to spray the bench. During the fight, they spray each other until "several bad puns later," they are both completely invisible.
After asking a man for the time and accidentally scaring him away, SpongeBob realizes that he and Patrick can pretend to be ghosts and prank the whole town. They pretend to be ghosts and go around frightening everyone (moving things around in Sandy's treedome, eating a cake Mrs. Puff was going to eat, painting a mustache on Squidward's face, etc.), until Mr. Krabs, who "ain't afraid of no ghosts," is the last person in Bikini Bottom to be haunted. They attempt to frighten him and succeed until they attempt to burn a dollar bill. Mr. Krabs' fear is overcome by his love of money, and he attempts to extinguish the match with a bucket of water. The invisible spray is washed off of Patrick and SpongeBob, exposing their identities, and their nudity.
Though embarrassed, Mr. Krabs comforts SpongeBob and Patrick by saying he forgives them and was fond of pulling pranks in his youth. However, when they attempt to leave, the Krusty Krab now contains nearly everyone in Bikini Bottom, and Mr. Krabs showcases the "live, nude pranksters." An extremely embarrassed SpongeBob and Patrick try to cover themselves, and SpongeBob says "We should've bought the whoopee cushion!" as the episode ends.
If The SpongeBob SquarePants Movie was the series finale of SpongeBob SquarePants like it was planned to be, then this would have been the last normal episode of the series. However, the series continued after the movie was released.
This is the final episode until "Extreme Spots" to use digital ink and paint.
It is revealed in this episode that Sandy is originally from Austin, TX.
When her escape pod lands it is in the Austin area.
In Spanish, the fish that says "Toast" says "Fantasmas," or "Ghost," in the Filipino dub he says "Gusto nyo?" or "Want some?" In the Hebrew version, he says "Sandwich;" in Korean, he says "What's that?" in Indonesian version the fish says "Hantu (Indonesian version translated "Ghost")," not "Toast."
Also, SpongeBob did not say "We'll go spray the park bench and then sit on it." he said, "We'll go spray ourselves and let the show begin!"
Sandy's rocket breaks the surface of the water in the Pacific Ocean near the bottom of South America, revealing Bikini Bottom's location, and gives how it can snow in Bikini Bottom because of its location.
The bad puns that SpongeBob and Patrick say while spraying each other with the Invisible Spray are:
"I gotta hand it to you!" Patrick sprays SpongeBob's right hand.
"Kind of gives you an empty feeling, huh?" SpongeBob sprays Patrick's chest.
"I see what you mean!" Patrick sprays SpongeBob's left eye.
"No guts, no glory!" SpongeBob sprays Patrick's gut.
Even though most of the words in the newspaper surrounding the article about Mr. Krabs are not real words, the following can be made out: (by line)
On the left-column: "was in," "in the," "can not," "world," "are," skip two lines, "I was in," "in," "I can not," skip two lines, "then he I," "so down I," "happen I," "of the," "said what," "equipped," "then he I," "so down I," "happen I" "way of the," "said what," "equipped," skip two lines, "He I was in," "down in the," "I can not," "of the world," "what are," skip two lines, "He I was in," "down in the," and "I can not."
On the upper column: "So then," skip a line, "it be the way," "and then He I was in So then he said what are," "are in the way of the west," "out their the way of the we how," and "bacon, eggs, and toast. With the same energy" (skip two words) "so is a" (skip one word) "that."
On the bottom-left column: Skip two lines, "and then He I was in," "I wasn't in so down in the," "how did it happen, I can not," "it be the way of the world," "So then he said what are," skip two lines, "and the He I was in," "I wasn't in so down in the," and "happen, I can not."
On the bottom-middle column: Skip two lines, "and then He I," ""I wasn't in so down I," "how did it happen, I," "it be the way," "So then he said what," and "equipped."
On the bottom-right column: Skip two lines "In the door, but I," "he village is so," "not say but how," skip a line, "you are in or out," "much stuff I," "out the disk," "mankind or crab kind" (kind is cut off to only show "ki"), "how," "so is a" (skip a word) "that," skip two lines, "and then He"
On the right column: Skip a line, "I wasn't" (wasn't is cut off to show "wasn'"), "how," "it be," "So the," "boat," skip a line, "I was," "how," "it be," "So," "boat," skip two lines, "in," and "he"
The words "leprechaun" and "hippopotamus" are also in the article, but they are misspelled.
There is a fan-made Angry Birds comic (seen here that uses the line, "Ghost! Ghost! Ghost! Ghost! Toast! Ghost!" from this episode.
Mr. Krabs could have taken out the toilet paper then escaped.
In the Polish dub, the episode's title is "Psikus za psikus" or "A Prank for a Prank."
In the Croatian dub, the episode name is "Najbolja Psina" or "The Best Prank."
The title card design is a reference to old-fashioned newspaper ads for pranks.
When SpongeBob asks Nat Peterson what time it is, he says that it is 10 to 3 (2:50). However, the closed captions say that it is 3:00.
In Bahasa Indonesia, instead of saying it is 10 to 3, Nat says it is 10:03.
When Sandy is frightened by the "ghosts," her escape pod breaks the Treedome. The dome is not flooded with water and is fixed in the next shot.
SpongeBob and Patrick are not wearing their water helmets when they are in Sandy's Treedome. Additionally, bubbles appear when Sandy removes their sheets.
SpongeBob and Patrick read that Mr. Krabs was the only one not scared yet when SpongeBob and Patrick clearly have not been scared yet. It's possible that they think that SpongeBob and Patrick are already scared because they are missing and that they presume that they are hiding.
It is debatable if Sandals was really scared of the ghosts either, as he said "Toast" instead of showing fear about the ghosts.
All of Mr. Krabs' ghost prevention charms are gone in the next shot.
When Mr. Krabs is inside the Krusty Krab, the windows have blinds. In subsequent scenes, the blinds are gone.
When the invisible spray washes off Patrick, his belly button reappears and disappears.
At the Krusty Krab, Sandy whistles by putting her fingers to her mouth, which is impossible because of her helmet. It's possible she was able to whistle without touching her mouth.
Mr. Krabs splashes a bucket of water on SpongeBob and Patrick to wash off the paint, despite the fact that they live underwater. Even while surfing, the water does not wash off their paint.
When Frank is holding the Invisible Spray, at the bottom of it says "danger." However, in every other shot of the Invisible Spray, the "danger" part is missing.
After Mr. Krabs throws water on SpongeBob and Patrick, SpongeBob's shoes and socks are visible, despite the fact that the invisible paint stains clothes. When SpongeBob explains that fact, he says "paint" instead of "spray."
Also, the Invisible Spray is occasionally referred to as "paint."
When Mr. Krabs grabs SpongeBob and Patrick, the dollar in Patrick's hand disappears.
Mr. Krabs says that he has taped the hairs on the back of his neck down. When he is fleeing from the "ghosts," there is no tape on his neck.
If the Krusty Krab contained all the people SpongeBob and Patrick scared, it would have been completely filled.
When SpongeBob and Patrick fight over the Invisible Spray, they are by the road. But when they are completely invisible after the "Several Bad Puns Later" time card, the road is not there. It is possible that they moved away from the road.
The credits mention Plankton, but he was not heard speaking and did not appear in this episode. This is because the credits mention both episodes rather than just the one.
The toilet in the Krusty Krab restroom that Mr. Krabs tries to swim through is out in plain sight and not hidden by a divider.
The background behind the toast in the scene where Sandals says "Toast." is seen.
Patrick, Mr. Krabs, and SpongeBob are in the restroom. But after SpongeBob and Patrick come out, they were near Mr. Krabs' office. It's possible they moved there since Mr. Krabs was already outside the restroom.
Frank says the Invisible Spray is $1. But SpongeBob gives him $3 and does not get the other $2 back. It's possible the other $2 were used as tip.
SpongeBob and Patrick glued the door to the Krusty Krab shut, yet a huge crowd of people came in to see the "live, nude pranksters." It's possible they were able to remove the glue.
Mrs. Puff usually never deflates and turns very tiny as in other episodes, she deflates back to normal size. She may have possibly deflated out of fright.
Sandy went to Texas with the rocket, but in the end, she was in the Krusty Krab. It is possible that she came back off-screen.
SpongeBob actually sprays Patrick in the crotch when he says "No guts, no glory."
The Invisible Spray makes SpongeBob and Patrick completely invisible, but when Patrick belches after finishing Mrs. Puff's cake, his mouth is clearly seen, being wiped with a napkin.
When Tom points out that SpongeBob and Patrick are naked, fighting over a spray can, Nat is seen on the bus. However, in the following scene, Nat is seen off the bus without having been dropped off as SpongeBob asks him what time it is.