It looks like a giant ship-in-a-bottle. There is a yellow ramp, most likely meant for handicapped individuals. It also has a giant sign at the top that says "Fancy!" in red on it. The restaurant is presumably on the opposite end of town from the Krusty Krab, seeing as Mr. Krabs mentions it being "some place far away."
There are cushioned seats alongside tables and a reception area, as well as a long kitchen which can withstand many chefs. There is also a stage on which a human pianist in scuba gear plays music on the piano.
Role in series
Mr. Krabs and Mrs. Puff go on a date at this restaurant. When a bill of $100 comes his way, Mr. Krabs complains, claiming the bill was a mistake. When the bill turns out to be someone else's, Krabs is given his actual bill, which adds up to a total of $100,000. Krabs screams at the top of his lungs, shattering the giant glass bottle encasing the restaurant.
SpongeBob works at this restaurant as an "exchange chef." Since SpongeBob has a passion for making Krabby Patties, they are the only thing he is able to cook, and the upper-class diners at Fancy! unexpectedly love them.
By the time the chef exchange program is over, the Krusty Krab had gone bankrupt, but SpongeBob arrives back just in time, bringing back the Krusty Krab's customers and the newly Krabby Patty-enamored socialites who used to dine at Fancy!. The main chef of Fancy!, Mr. Le Schnook Luigi, debuts in this episode.
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"Krusty Love"- The glass outside the restaurant breaks when Mr. Krabs screams about his bill.
"The String"- It was destroyed offscreen while SpongeBob was unraveling the string.
"Le Big Switch" is the only episode to show the restaurant during the daytime.
An upright glass bottle is seen as a building in the background of a single shot "Bubblestand." What connections this building has to Fancy!, if any, are uncertain. The upright bottle building has not made any appearances since.