The toy box is a cube-shaped object that pulls out a clown head after cranking it for a certain amount of time, usually depending on how fast it is being cranked. The face of the clown appears white with orange hair and a red nose. A light green spring is attached from the head to the bottom of the box.
The inside of the box is colored blue, aside from it is the outside which contains multiple colors including velvet, green, and yellow. The box has a crank located on the side, and when it is turned, it plays a tune which follows to a pop.
Role in episode
After going through his toy box, SpongeBob and Patrick are re-living their childhood memories by imitating a toddler. While Squidward is scolding at them, SpongeBob pulls out a toy box that pops out a clown. After it pops out, both SpongeBob and Patrick begin wailing, causing Squidward to call them "infanture hold-ups" and continue with his "grown-up lifestyle."
The toy box is a reference to the actual toy Jack-in-the-box, which has the same technique.