The playground has run-down attractions such as a slide made of cardboard or a ball pit with bowling balls. Known characters are Krabby The Clown and the Krabby Patty Burglar.
The rides are so unsafe, so the kids must sign "coloring books/liability wavers" before playing (obviously so Mr. Krabs doesn't get sued). The only reason Mr. Krabs even built the playground was to get money from kids on their summer vacation. Mr. Krabs' cheap idea ultimately ended up backfiring on him in the end.
Krabby Land was a park of horrible quality made out of used junk. Here is a list of rides that were seen at Krabby Land:
Fort Adventure: a pair of trash cans, a piece of wood, a tarp, a wooden sign with the fort's name written on it in white, a piece of pipe, and other parts used to make a fort.
Hose World: a couple of hoses hung up. One hose dripped water every second.
Toaster Rodeo: toasters without wires connected to springs.
Rocketship Fantastica: pieces of wood that made a swing hanger. A rope was attached to a piece of wood holding a tube that was supposed to be the rocket. The tube fell because it was large and very heavy for the rope.
Tire Swing: two pieces of wood that looked four feet tall that had a rope attached to one that held a tire. The tire was to high to get to.
Slide: a slide that broke easily when Tyler tried to ride it.
Mr. Krabs was dressed as the playground's original mascot, Krabby the Clown. He was simply dressed as himself, but he had a tomato painted blue on his nose, a polka-dot tie, and talked in a high voice. Krabby is a parody of Ronald McDonald.
SpongeBob ad-libbed himself as the Krabby Patty Burglar and put on a red mask. To stall the kids while Krabby the Clown "caught his bus," he did many stupid things - including running his tongue over with a truck or even eating lima beans - to keep the children entertained. He is an obvious parody of McDonald's Hamburglar.
When Mr. Krabs announces that Krabby the Clown will be coming to the Krusty Krab, everyone gets excited. Kids lose their excitement when Mr. Krabs puts on a blue tomato nose and green and yellow polka-dotted tie and claims to be Krabby the Clown, only to encourage the kids to buy Krabby Patties. This causes Mr. Krabs to get beaten up by the children and later forced to eat a truck full of lima beans as punishment.
It is unknown what happened to Krabby Land, as it is not seen again in any other episode. It was most likely condemned and torn down sometime after the episode.
The episode it appeared in may have been a reference to McDonald's (a worldwide chain of fast-food restaurants with playgrounds). And possibly its advertising campaign, McDonaldland. Krabby the Clown and the Krabby Patty Burglar are likely based on its McDonaldland Mascots, Ronald McDonald and the Hamburglar, respectively.