ThePenny Pinchers are a large group of crabs that get together at one point in a year every year, and celebrate the "Cheapest Crab Alive." They only appear in the episode "Kracked Krabs."
They include, Mr. Krabs, who was nominated for cheapest crab. The reason was because he gave free Krabby Patties to lure in the customers, and then put up a sign that enforces the fact that they have to pay 1 dollar per footstep, leaving them in desperation. Chintsy McGee is another crab that proves himself worthy of the cheapness title. Beuford BargainBottom, and possibly another crab was nominated as well. They are all colored red, and wear business suit's similar to Mr. Krabs'. They all chuckle like Mr. Krabs as well. They make Mr. Krabs look like a nice person, seeing how related they are.
Here are the two other nominations, along with Mr. Krabs':
Beuford, charged Ralph three times the price, since the product has the phrase "3 Times the Flavor" on it.
Another crab, took used toilet paper, and instead of throwing it out in the toilet, he retied it to the toilet paper roll.
Some of these crabs may be relatives of Mr. Krabs.
They are all cheap, hence the name "Penny Pinchers."
They have their own secret handshake.
The shake entails the words: "Penny pinching, penny pinching! (one crab pinches the other on the butt, and then vise-versa) Cheap, cheap cheap! (they peck like chickens on the ground)" The handshake ends from there.