Timmy speaks almost exclusively in Latin. As a result of his pretension, no one ever has a clue what he's talking about. Yet, his Latinate incantations are what enable him to summon his Fairy Godparents who grant him every little wish that he may desire. Effectively, Timmy Turner is like a more materialistic Doctor Faustus.

Spongebob is a solitary sponge. He always knew that he was truly alone in life, and he has never before felt so isolated as when he is forced to sing for his life when surrounded by a mass of Plankton's drones. Yet, it was not only at this time but in the ninety minutes of film preceding the musical number during which Spongebob began to truly understand his loneliness. Finding that his manager does not trust his years of devotion in his line at work, so refusing his promotion; being cast off by the all knowing King of the Sea, Neptune, so having to embark on a ridiculous quest into a land which almost marks his demise; having to endure the dull and empty companionship of Patrick Star, who does nothing but place Spongebob needlessly in peril and consolidate his unbearable loneliness as he realizes that this is his only true friend - all these experiences accumulate in proving how desperate Spongebob's existence is. So when he asks if the audience if they are considering his lifestyle, it's not an invitation but a warning.

This identifies that the pants do in fact belong to Spongebob, although due to some paradox, the final mention of how foolish it is to rip one's pants prompts the sudden tearing of all the pants of the fish who are performing. This is most shocking, as the possessive pronoun 'He' must mean that those pants all in fact belong to Spongebob. The implication that he owns there pants by means of association suggests he similarly owns 'their asses'; thereby, Spongebob is an all singing, all dancing pimp of the lagoon. The whole song is about him getting pissed because a rival pimp Larry 'The Lobster' Sovernstien took his bottom bitch.