The Wet Noodle is a restaurant that makes its first and only appearance in the episode, SpongeBob You're Fired. It is a Chinese food restaurant. SpongeBob tried to apply for a job here but was fired because he made a noodle patty. This was the last place SpongeBob went for a job since he was fired from the Krusty Krab.
The building looks like a huge Chinese food box, but the inside was never seen.
Noodleman, a fish wearing a chinese box costume runs the shop.
It is possible SpongeBob got his Chinese food that appears in Procrastination from here.