The Yeti Krab is a monster that appears in the episode of a similar name, "Yeti Krabs."
The Yeti Krab is tall, red, and has white hair on his legs, eye stalks, forearms, and upper body. He has large yellow teeth, and a bad temper. He also has an oddly shaped nose.
He comes to Bikini Bottom after Mr. Krabs tells his tale about a Yeti Krab that eats lazy employees, like Squidward. The Yeti Krab is usually angry, especially when provoked by Squidward and SpongeBob. Mr. Krabs only made his story to try and make Squidward work.
He came to Bikini Bottom for a look around, and smelled the Krusty Krab's food, after becoming hungry. He went to the Krusty Krab for food, and SpongeBob realized the monster was real. Squidward thought it was Mr. Krabs dressed up. SpongeBob works in overdrive to avoid getting eaten, and Squidward is finally fed up with the Yeti Krab. He attacks the Yeti Krab, as Mr. Krabs walks inside the Krusty Krab.
The Yeti Krab ties the three up, and begins to cook them. Only when SpongeBob activates his emergency Krabby Patties, does the Yeti Krab eat those instead of the three captives, and he leaves the Krusty Krab.
There is a real-life creature called the yeti crab.