You Spongebob Squarepants, yellow-bellied niggas who square dance

from Asher Roth – Golden Midas Lyrics on Rap Genius

Meaning

Spongebob Squarepants (or “Squarebitch”) does, in fact, have a yellow belly. “Yellow belly” is a Southern word for coward or pussy.

The “square dance” part is referring to the fact that Spongebob is square

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