This story is a second version of a story that can be found here.
As you may know, the popular show "SpongeBob SquarePants" has been running for a long time. However, October 7th, 2003 and October 21st, 2003 episode 34 was accidentally released one week before it was scheduled to.
It was also known to some around the office the primary writer had been sick with the flu, and instead of going on to make episode 34, the show was supposed to replay episode 1. At 5:00am eastern, people reported a very disturbing new episode premiering on Nickelodeon - some children were unfortunate enough to see it.
Apparently the quality of the episode was mediocre when held to the regular standards. Animation was choppy, sound was constricted and very muffled. Reports of a line running up and down, similar to a crappy VHS tape were received. Scenery was described as "overwhelmingly dark and depressing without changing props and other background objects; stormy looking."
Characters also behaved oddly. Instead of the normal goofy, hi-jinks inspired personalities, viewers complained they seemed extremely agitated, gratuitously hateful toward each other, and constantly about to begin sobbing after the lines.
The episode was called "Dumped"
Other than the image, the rest of the video is composed of incomprehensible jumbles of colors, static, or just black screens. The audio seems to be a heavily distorted version of the audio from the original episode, with loud, droning buzzes occasionally interrupting it.
The bootleg tape itself was found in December 2004 by a group of 5 teenagers from the city rummaging around in a trash can within an abandoned mental institution. Of these 5 individuals, 2 have committed suicide, 1 has gone missing, 1 refuses to comment on the tape, and the last hastily agreed to give paranormal investigators the tape shortly after being interviewed about the suicide and disappearances of the other 3 persons. The current whereabouts of the tape are unknown, and many who stare at this image for a long enough period of time claim to see Spongebob blink....