Squidward is sleeping at the Krusty Krab while reading Boredom Weekly. Mr. Krabs wakes him up, they go through a discussion about Squidward's working habits at the Krusty Krab. Squidward believes he has no problem with work, and doesn't care about what Mr. Krabs has to say. Then, SpongeBob comes out of the kitchen, working by sweeping, and cleaning the windows. He then stretches his body very far from the windows to the kitchen to clean the dishes. While doing this, he continues sweeping with his lower body. Mr. Krabs is pleased with SpongeBob, and continues to harp on Squidward's work habits, while SpongeBob uses his back to clean the Krusty Krab walls and ceiling. Mr. Krabs tries to have Squidward clean an air duct, but SpongeBob beats him to it, while Squidward continues to sit back, lazily. Mr. Krabs then wants him to clean the gum off the underside of the tables. Squidward, again, refuses, and continues to read Boredom Weekly. SpongeBob, once again, beats Squidward, and creates a huge gum ball, and asks if he can give it to Patrick. Mr. Krabs then wants Squidward to clean a pair of his shoes. Squidward says no, while SpongeBob cleans them. Mr. Krabs becomes angry, but sees SpongeBob outside, soaking up water, and washing a boat, making it shiny, and looking brand new. Mr. Krabs then tells the story about Yeti Krabs, and how it eats lazy employees, like Squidward. SpongeBob becomes alarmed when he hears the story. Upon telling the story, Mr. Krabs dumps his laundry at Squidward's post, and leaves. Squidward leans back relaxing, while SpongeBob panics. Squidward thinks no Yeti Krab exists, and SpongeBob tries to believe him. But to be safe, SpongeBob transforms himself into washing machine, and cleans Mr. Krabs' laundry on delicate setting. By pulling his nose, and dumping soap flakes in his head, Mr. Krabs' laundry is soon being cleaned.
The time cards "Just then..." and "By sheer coincidence..." appear one after another. The camera zooms close to a mountain where a Yeti Krab appears. He smells the air with anger. He walks to Bikini Bottom, and smashes the city's sign that welcomes visitors into the city. He growls fiercely and becomes very mad. He sucks on a mailbox, but spits it out in rage. He growls and yells at a sunglass shop, but walks away, not destroying it. He becomes hungry, and his stomach yells it needs food. Yeti Krabs hollars in agreement. Suddenly, an aroma appears, and Yeti smells it. Upon smelling the Krusty Krab, he runs excitedly to it. SpongeBob is washing tables, when he sees Yeti Krabs, seething saliva out of his mouth. He runs to Squidward's boat. Yeti walks up to the counter, but Squidward thinks it's Mr. Krabs in a suit. SpongeBob doesn't think this. The Yeti screams at SpongeBob and Squidward, flattening their faces. Squidward, still thinking it's Mr. Krabs, sits back amused. SpongeBob becomes more scared of Yeti, and begins to set up places for him to sit. He leans against a table, to find it is very wobbly. Panicing, SpongeBob places many wedges under it, to stable it, and make it Yeti Krabs height. Yeti is a little mad, so SpongeBob goes and looks at the mustard. It's nearly empty, so he puts more mustard in the container. He puts so much in, it overflows. He slides under Yeti Krabs, and runs into the kitchen. He rearranges all the spices on the rack. Yeti Krabs sneezes, blowing SpongeBob really hard. SpongeBob bounces off all the walls in the kitchen until he lands unharmed. He is glad that is over with, but looks at the grease trap door. He opens the grease trap, and sucks the grease out using his entire body, and puts it in a barrel. The Yeti Krab sucks on the grease, while SpongeBob shoots extra grease everywhere. He makes Yeti Krabs really mad. Squidward is reading the newspaper, and greasy liquid begins to drip on him. SpongeBob is cleaning the ceiling, and Squidward tells Yeti Krabs, he's annoying, and this has gone too far. Yeti Krabs yells into Squidward's face. Suddenly, Squidward's newspaper burns away. He becomes enraged, and it shows SpongeBob is welding Mr. Krabs' office door. SpongeBob apologizes, and Squidward tells the "truth" about Yeti Krabs. SpongeBob still doesn't believe him, and tells Yeti Krabs he is going to continue working. SpongeBob carries toilet paper into the restroom. Then, he carries paint to paint the Krusty Krab. Next, he creates paper crane napkins. Then, he knits straws, and puts them into a cup. After this, he prepares soap to wash the floor of the kitchen, and uses a saudering tool to smoothen his grill. He then uses his body to clean under the metal sheeting that had a thin crack between it and the wall. Upon doing this, he vacuums all the tables, and even vacuums Squidward's other newspaper away. Squidward yells to SpongeBob, but SpongeBob is stuck in a trance of where he has to work, or Yeti Krabs will eat him. SpongeBob then vacuums his hat up, and runs. He slows down, and jumps into Squidward's boat. Yeti Krabs slashes Squidward's newspaper, and SpongeBob jumps up, begging Yeti to not eat him. Yeti Krabs begins to chase SpongeBob around. Squidward, who is fed up with this game, goes out to the dumpster, pulls on a bucket, stomps his feet into two bags, puts dry cement on his arms, and legs, and puts a mop piece on his head. Squidward runs into the dining room, and yells to Yeti Krabs. Yeti Krabs becomes very mad, and yells so loud, he blows Squidward backwards, until he hits the wall. SpongeBob, is very scared, for both Yeti Krabs, and Squidward. His brain blows all the air out of it, and he falls backward, unconscious. Squidward is then seen pulling on Yeti Krabs hair on his head, while Mr. Krabs returns, and says he's back. Squidward is still yanking on Yeti Krabs. Then he sees the real Mr. Krabs, and panics, realizing Yeti Krabs is a real thing. Yeti Krabs grabs Squidward, Mr. Krabs, and SpongeBob, and puts them on the grill, and starts to cook them. Mr. Krabs is mad at Squidward, but SpongeBob regains consciousness, and realizes what Yeti Krabs needs. He opens a can of emergency Krabby Patties he keeps in his shirt. He cooks them with his feet, and serves them to Yeti Krabs. Yeti Krabs is thrilled, and gives Mr. Krabs money for the patties, to Mr. Krabs' delight. The Yeti Krab walks out of the kitchen, after freeing Mr. Krabs, Squidward, and SpongeBob. Mr. Krabs is mad at Squidward for making the Yeti Krab mad, and SpongeBob then grabs a broom and begins to sweep, and does as Mr. Krabs tells him to do.
There is a reference to "Gift of Gum"; SpongeBob cleans the gums under the tables, creates a giant gumball and asks Mr. Krabs if he can give it to Patrick - this episode may take place before "The Gift of Gum."
The Yeti Crab (known as a Kiwaidae) is a real-life species of crab discovered in 2005 near Easter Island. Its arms bear the resemblance of an abominable snowman, hence its name.
Squidward likely had spare copies of the newspaper, since SpongeBob burned and vacuumed it up.
This is the second instance with welding materials in the Krusty Krab. The first was "The Krusty Plate."