On the way to the next stop of their tour, the Commander tells Jimmy to pull over when he sees signs for a roadside freakshow with a real live Cobra Man, something a kid in fourth grade bet him he'd never see (The Commander having a history of letting people trick him into taking outlandish bets, actually). They meet Carl, the masked magician and keeper of the Cobra Man, who collapses a tent on them and steals the Battletram so he can show Cobra Man on the road. The Aquabats use Carl's car to try to catch up, but Cobra Man shoots snakes out of his snake-hands at them, freaking the Aquabats out enough that Carl gets away. No Battletram means no rock tour, and no rock tour means no more Aquabats...
The next day the former Aquabats are working as landscapers when they see the Battletram a block away, converted into a mobile roadside attraction. Despite the others wanting to try to get it back, the Commander tells them they need to leave the past in the past...until Ricky bets him they can't get the Battletram back. They get the drop on Carl and his Cobra Man, until Carl bets the Commander he can't beat the Cobra Man in a one-on-one fight. Carl teleports the two of them to the desert for their fight to the finish, which the Commander actually does win by sneaking up on Cobra Man and putting him in a sleeper hold. Meanwhile Jimmy defeats Carl by pumping knockout gas into the room.
The Commander lets Cobra Man go when Cobra Man bets him he won't, and Cobra Man promises to break Carl out of jail at the soonest convenience.
- Compressed Vice: The Commander suddenly can't turn down a bet, to the point of thoughtlessly injuring himself or letting the Cobraman escape.
- Expy: Between that strangely familiar luchador mask and being played by Matt Chapman, Carl is basically Strong Bad crossed with a birthday party magician.
- Evil Is Petty: Despite having some formidable abilities between the two of them, Carl and Cobra Man aren't interested in doing anything more grandiose than taking their cheesy tourist attraction from place to place.
- Hypocritical Humor: Carl gets mad at the Aquabats for taking his car to chase him after he steals the Battletram from them.
- Suddenly Voiced: At the end of the episode Cobra Man can suddenly talk, surprising the Aquabats as much as anybody.
- Throw It In!: In the commentary they say that the part where Crash is taking off his groundskeeper outfit and the strap of his hat gets caught on his nose wasn't planned, but it was just such a perfect happy accident they left it in anyway.