The cover is yellow. In the book, there are two pictures that feature the Flying Dutchman. One as a mannequin for a clothes store called Kid World and another is him flying to the bottom of the ocean. The writing is written in the writing used in the past, like the medieval times, and in a font that is usually accompanied by writing from the past.
Role in episode
It is found by SpongeBob and Patrick when they are ordered by "Squidward's ghost" to clean out his spare room full of random junk that he no longer uses. After SpongeBob tears off the wallpaper, he and Patrick find a comic book lying on the ground. SpongeBob reads it and it says that the Flying Dutchman now haunts the seven seas because he was never put to rest.
Afterwards, he aims to put Squidward to rest, so that he will no longer haunt them.