The tickle belt is basically a dark blue belt with a golden lock in the front. The belt comes with a remote that can make the belt tickle the wearer at the same time.
The belt tickles enemies into submission or to the point of wetting themselves. The belt can only be taken off by a special key, but it is not very much needed, because it is impossible to try to take it off while being tickled.
It tickles so effectively that it leaves its victim rolling on the ground, giggling continuously unless turned off. It is shown by Man Ray that it is possible to become immune to the tickle belt. It is also shown that the belt's powers can still affect the victim after the belt is removed.
Role in episode
The tickle belt is used on Man Ray throughout the episode whenever he does something bad while SpongeBob and Patrick are training him to be good. Eventually, Man Ray is able to trick SpongeBob into freeing him from the tickle belt by making him believe he turned good.
Man Ray then disintegrates SpongeBob and Patrick and proceeds to rob a bank. However, he is unable to as he keeps laughing stating that the tickle belt's powers are still affecting him despite having it taken off.