Figures.com is reporting that Toy Vault is planning Spongebob Squarepants toys based on the Nickelodeon animated series.  Spongebob Squarepants is another example of Nickelodeon animation that can span age groups -- with a wacky concept, sight gags and easy humor for the kids and some more subtle elements for adult audiences.  The toys sound like they will also appeal both to kids and to adult collectors.  The report describes three different products:  a line of 2-3' 'stretch' PVCs, detailed sponge figures packaged in a clamshell (they will expand when wet), and a Mr. Potatohead-like figure that allows you to customize Spongebob's features.  Toy Vault has produced high quality toys in the past (including their Middle Earth line), and these look to along the same lines.  For concept art and details, see Figures.com.