Who lives in a pineaple under the sea SPONGEBOB SQUAREPANTS! That does look like spongebag to a certain extent and I like it and I did laugh when I saw it, can't wait for Patrick.
[edit] Okay, that was kind of harsh. Sorry. Anyway, about Spongebob. He looks accurate (I think... I don't exactly watch the show), but that yellow splat makes him look like he had an... accident.
I don't care for spongebob, but that is a pretty good 8-bit rendition of him. The color is a bit off, though. It looks like someone used spongebob to wipe his ass...