One day, Patrick orders a Krabby Kiddie meal at the Krusty Krab, but since he does not have any money, SpongeBob pays for it. He agrees to share it with SpongeBob, but does not save any of the meal for him. Patrick then wants his money back because his meal did not come with a toy, again despite the fact that SpongeBob paid for it, not him. Mr. Krabs sticks some straws and googly eyes on a Krabby Patty and calls it a Krabby Patty shaped toy, and SpongeBob falls in love with it and names it "Patty Pal." Patrick then reminds SpongeBob that they are sharing this meal, ignoring that he ate it all himself, and takes Patty Pal.
It is the end of the day, and Patrick still will not let SpongeBob play with Patty Pal. They both go home, and SpongeBob declares that Patrick will be asleep and not get to play with Patty Pal, but Patrick dances with the Patty Pal all night.
SpongeBob wakes up and goes over to get the toy, but Patrick makes excuses not to come out. SpongeBob pretends to walk away, but fails to get Patrick to give him Patty Pal. Patrick whines and thinks it's not fair that SpongeBob wants the toy. SpongeBob tries to be diplomatic and suggests that they each get a day with it, but Patrick refuses. He asks him if he can keep it for a shorter time, but Patrick refuses again, and continues to refuse to SpongeBob's continually decreasing offers until SpongeBob finally takes the toy deciding that they trade off every second. Unfortunately, even when they do that, Patrick still looks physically pained to part with the toy for even a second, so he takes the toy and runs away, which makes them begin to fight.
They run into Squidward's house and then Sandy's Treedome without helmets on. Sandy tries to help them, but they dry out and run out of her treedome gasping for water. When they feel better, they begin to fight again, and roll onto a bus, a subway, a taxi, and eventually back into the Krusty Krab. Patrick yells that if he cannot have it, then no one can and eats Patty Pal. SpongeBob and Patrick complain to Mr. Krabs, who stops their argument saying that they should be ashamed for letting a toy get in the way of their friendship. After that, he lets them each have a toy, but they have to pay for it. Patrick replies that he will pay, but he pulls out SpongeBob's wallet. SpongeBob tells him that it is his wallet, and Patrick asks him if he has learned nothing about sharing.
One of Patrick's excuses is one he used in "Suds."
This episode did not have closed captions during its initial airings.
SpongeBob states that the Patty Pal is the Krusty Krab's first licensed toy; however, two other episodes have shown toys from the Krusty Krab. This might have taken place before those episodes.
Patrick ate the Krusty Krab toy, too. This means the Krabby Kiddie Meal has two Krabby Patties for the price of one.
This episode reveals that Bikini Bottom has a Subway.
This is the first time the Bikini Bottom subway station appears. The train says "Ballymun" on the front of it. It is in support of the suspended Metro North rail project in Ireland, proposed to run from Swords to Dublin via Ballymun.
This is the first time SpongeBob's Milkshake License appears. It will appear again, and be the main plot of the episode "License to Milkshake."