SpongeBob is running towards Patrick's house, ready to go jellyfishing. Patrick says he'll go with him, but must put away his "secret box" first. SpongeBob asks him what's inside the box, but Patrick refuses to let SpongeBob see. Despite repeated attempts, SpongeBob is unable to get Patrick into opening the box, even after he tempts Patrick with secrets of his own. All that is known is that whatever is in the box is extremely funny. SpongeBob eventually gives up and decides not to look.
That night, SpongeBob finally snaps and sneaks into Patrick's house and tries to sneak a peek while Patrick sleeps. He makes several noises, but Patrick doesn't wake up. However, SpongeBob accidentally speaks, and Patrick wakes up and catches him in the act. He is shocked, and declares their friendship to be over. But, Patrick ultimately forgives him and opens the box. Inside, there is just a piece of string ("A secret string!" as Patrick describes it). SpongeBob comments on how he "should've known," but when he leaves, Patrick reveals to the audience the real secret; when he pulls the string, a secret compartment opens in the box, and there is "the embarrassing picture of SpongeBob at the Christmas party" the audience doesn't see. Patrick then tells SpongeBob "Merry Christmas."
I can turn into a skyscraper!
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It is revealed that SpongeBob and Patrick's symbol of friendship is a ring that sings, "It's the best friends forever, best friends forever, ring!" When a button is pressed, it has dancing figures of SpongeBob and Patrick.