From SpongePedia, the First SpongeBob Wiki.
Dead Eye is a song that describes the evil villain: Dead Eye Plankton, and was sung by Pecos Patrick, Mr. Krabs, Squidward, Mrs.Puff, and other Bikini Bottomites' ancestors in Pest of the West.
Pecos Patrick: Ooohhhh, Bikini Gulch, Was a purdy place, With sweet water and blue sky... 'Till one day a beast, Come a-riding from the east, By the name of old dead eye. (All: That dirty no-good dead eye.) Pecos Patrick: Oh, He's robbed this town, He's pulled my pants down, Mrs. Puff's Western Ancestor: He made all the pretty girls cry (She cries) Mr. Krabs' Western Ancestor: That no good goon, Wants my saloon, and the I.O.U.'s due tomorra' noon, If we don't get some help here real sooooooooon... All Krusty Kantina customers (Except SpongeBuck SquarePants): We'll lose everything we own to dead eye. We'd stop him if we weren't so scared to try.
Pecos Patrick: And if you think that's funny, Let me tell you sonny, You won't be laughing when you see... (Gasps) His...(Gasps) Big...(Gasps) Red...(Gasps and sobs) Dead eye! All: Dead eye!