Anchor Arms appear to be long, large pink balloons that are worn on the arms like gloves and inflated to form "muscles."
The settings are as follows:
Hairy (for the "ladies")
The levels of air pressure are as follows:
Jerk (Red — Never inflate to this level as it will cause over-inflation and damage the Anchor Arms. However, SpongeBob eventually blows them exceeding Jerk as he struggles when lifting his anchor, causing them to overstretch, explode, and deflate.)
Role in series
SpongeBob, coming to a conclusion that he is very weak, buys a pair of Anchor Arms after having seen a commercial for them, with the intent to impress Sandy with his "strength." He goes to Goo Lagoon to deceive everyone with his fake muscles, with everyone buying it. Thinking that he is really strong, Sandy signs him up for an Anchor Toss competition.
When it is SpongeBob's turn to go, the Anchor Arms' rubber starts to stress due to SpongeBob overinflating them into the 'Jerk' size while struggling to lift the anchor. Eventually, they explode and deflate, revealing his "muscles" to have been fake.
A variant of the Anchor Arms is used to repair SpongeBot SteelPants, after the real SpongeBob temporarily destroys him. The difference is that these particular Anchor Arms appear to be made of plastic, instead of rubber balloons as in the original.