Kyle learns from a crowd on the sidewalk that Sigmund the Sorcerer is in town, and he tries to flee, but he comes across a giant hologram of Sigmund, who tells everyone that the real Sigmund is behind them. The fans excitedly crowd around Sigmund, and Fanboy and Chum Chum hear Kyle reveal that Sigmund was his rival at the Milkweed Academy for Wizards. Thrilled that Kyle knows Sigmund personally, Fanboy and Chum Chum push through the crowd and show him to the sorcerer. The pompous Sigmund wonders what "Kyle the Constipator" has done since leaving the academy, and Kyle claims to have accomplished much. To this, Fanboy and Chum Chum chime in that Kyle was first to be raised by his braces up the school flagpole (where Fanboy and Chum Chum were already hanging by their underwear). They believe that the time they spent together on the flagpole cemented their friendship with Kyle. Sigmund seems somewhat disheartened by the mention of Kyle having friends, but then he invites himself to Kyle's house so they can catch up, but it's obvious he just wants to see how little success Kyle has had.
While expecting Sigmund, Fanboy and Chum Chum are at Kyle's house making plans for the visit. Kyle is distressed at the idea that his rival will find out "that I am nothing and I have nothing." Fanboy and Chum Chum offer to help make it look as though Kyle is a more accomplished wizard to impress Sigmund, and Kyle agrees even though he feels it's a desperate plan to turn to.
When Sigmund arrives, Fanboy and Chum, dressed as elves and pretending to be Kyle's assistants, go to "park" Sigmund's griffin and return with the "blackened pheasant" (really a pigeon from outside) he ordered for dinner. Sigmund then expects his food to feed itself to him, thinking the house to be enchanted. Fanboy, hanging from the chandelier, moves the bird on wires like a puppet, and Chum Chum uses a magnet under the table to move the metal dish of gravy to Sigmund (after a few tries).
Sigmund now seems impressed, and wants to buy Kyle's "elf assistants" from him, saying he's "never been comfortable with the idea of [Kyle] being happy." Kyle is unwilling to sell them, proud that he has something his rival doesn't. But he changes his mind when Sigmund offers re-admittance into Milkweed Academy in exchange. Kyle goes to pack for school, and when he returns with his suitcase he finds Fanboy and Chum Chum tied to dynamite and hanging above alligators. They tell Kyle they're being trained to be Sigmund's assistants in his magic act, and Kyle, rather concerned, asks Sigmund how this particular trick works. Sigmund says that afterwards he'll just get some more elves. Kyle stops him, admitting that Fanboy and Chum Chum are his friends and not his elf assistants. He then confesses that he does not have fame or fortune like Sigmund, and reluctantly admits Sigmund is better than him. Sigmund starts to leave in pride, and when Kyle checks to see if he'll see Sigmund at the academy, Sigmund calls him Kyle the Constipator again and says "You push and push and all for nothing."
After Sigmund is gone Kyle feels disheartened, but Fanboy and Chum Chum remind him he still has them, and he realizes "I suppose I am a winner after all." At request, Kyle hugs his friends, and the dynamite tied to them explodes. Chum Chum says Sigmund's catchphrase, "You've been dazzled!" Kyle says "You make it so difficult."
- Absentee Actor: The only person in the crowd other than Fanboy, Chum Chum and Kyle to speak is Oz.
- But Now I Must Go: Sigmund decides he'll leave after Kyle admits the truth.
- Evil Counterpart: Sigmund is one to Kyle. Unlike him, he's full-on spoiled and rude.
- Fantastic Fireworks: During the flashback to Kyle's birthday, fireworks spell out "Happy Wednesday, Sigmund!" in the sky above him.
- "Fawlty Towers" Plot: Kyle lies to Sigmund about being a skilled, high-achieving wizard and tells him that Fanboy and Chum Chum are his elf servants. The facade continues until Sigmund proposes to buy his "servants" and send him back to Milkweed Academy, forcing Kyle to reveal the truth.
- Forgot About His Powers: Kyle has Fanboy and Chum Chum "enchant" the dining room for him, but why could he do that when he could've just enchanted them himself with his magic?
- Forgotten Birthday: Happened in Kyle's flashback to his birthday party; his guests left him for a party on the moon with Sigmund.
- Getting Crap Past the Radar: Kyle is referred constantly by Sigmund as "Kyle the Constipator".
- Jerkass: Sigmund.
- Kissed Keepsake: Chum Chum somehow receives Sigmund's autograph on the insides of his eyelids, and vows never to open his eyes again. Problems ensue, of course.
- Maintain the Lie: For the majority of the episode.
- Non-Fatal Explosion: The dynamite at the end.
- To the Spongebob Squarepants episode "Squilliam Returns".
- Sigmund is named after famous neurologist Sigmund Freud.
- Snap Back: Although Kyle admits to Sigmund that Fanboy and Chum Chum are his friends, he still acts snarky around them after this episode.
- Toilet Humor:
- Well Done, Son Guy: Kyle spends the entire episode in which Sigmund stars trying to impress him. He eventually receives praise from Sigmund, but due to the whole premise being a "Fawlty Towers" Plot, the lie collapses shortly after. They both go back to their former relation to each other.
- Wink "Ding!": Done by Fanboy as he is controlling the pheasant with a marionette.