Yes, Spongebob has been made into "SpongeKnob SquareNuts" by adult film director Lee Roy Myers. In short, it is a grown man in a weird yellow sponge suit that looks like a thing of nightmares trying to make a spongebaby with Sandy Cheeks. Seriously though, who wouldn't (she knows karate!).
Read on to watch the video.. it is more creepy than anything else.
From here I will let you figure out all the details.