Patrick says he will give SpongeBob a surprise for when he becomes manager. His surprise? Patrick floating on a balloon bare naked.
With a flagpole wedged between his "cheeks".
Patrick later asks the crowd if they saw his butt.
When Mindy comes to tell SpongeBob and Patrick what's going on, Patrick asks Mindy if she saw his underwear. Mindy says no. Patrick asks if she did want to see them. No answer from Mindy.
Also, Patrick seems attracted to Mindy, who looks a like a teenager. Patrick is 24 years old....
Well, she is hot.
Did you see my underwear?
Did you want to?
When King Neptune puts Mr. Krabs on fire, Mr. Krabs shouts "Me pants are on fire!".
He comes back in nothing but his underwear and says "Me underwear's on fire!".
He comes back naked and says "I'm on fire!". Also, while he says this a little fire flame is shown where his crotch should be.
At one point, SpongeBob says "I'm late for work! Mr. Krabs is gonna be -" then cuts himself off. Now, what certain cuss word that starts with a "p" should go there?
And King Neptune actually says "damning".
Yeah but isn't that actually the CORRECT usage?
When Mr. Krabs is whispering to Spongebob, who's repeating everything he says into the microphone, Spongebob says "I'm making a complete what of myself?" Now, there's a lot of options that could go there, but if you listen to Krabs's mumbling before this line, you can hear the word "jackass".
The slapping section of the song Now that We're Men. While fairly harmless in the context of the movie itself, listening to it in the movie's soundtrack treats you to slapping noises while Spongebob and Patrick utter "Go!", "Uh huh", and "Oh yeah!" in fairly suggestive tones as the slapping gets faster until it finally ends with both of them letting out a big sigh.
Plankton says "Lord knows I've tried" as opposed to "Neptune knows I've tried." References to God or religions besides Judaism in Nicktoons are extremely rare outside of Ren and Stimpy and Rugrats.