Shipwreck Wall Jump Skip
In the shipwreck area of the Flying Dutchman's Graveyard after the bungee, there are 2 different wall jumps. Sails that move back and fourth that you must wall jump across, and wooden planks that spin that allow you to climb up.
Using Cruise Boosting, SpongeBob can skip both wall jumps and reach the spatula.
SpongeBob can bash up onto the edge of doorway leading into the shipwreck, then from there, climb the outside of the ship, leading to the end of the area which allows you to get the spatula.
SpongeBob can go inside of the boat, then bash up to the top of the inside window. From the top, you can jump to a set of wooden beams, then bash up to the area with the spatula.