The diamond encrusted SpongeBob by Simmons Jewelry pendant, containing a total of 12 carats of white diamonds as well as color enhanced yellow, red and blue diamonds set in 18KT yellow and white gold-- will make its debut display in Park City, Utah, during the 2009 Sundance Film Festival and will be auctioned off at a later date with proceeds benefiting the Diamond Empowerment Fund (D.E.F.). This pendant will be displayed in a one of a kind, custom made abstract box.

Russell Simmons says, "We are always looking for innovative ideas to develop fine jewelry and the Nickelodeon partnership to license SpongeBob is the perfect addition to the Simmons Jewelry Co. family".

Marking the first luxury brand jewelry partner for SpongeBob SquarePants, the collection will be available for both men and women. Available at fine jewelry and specialty retailers in fall 2009, the products will retail from $150 to $75,000.

NVCP senior VP domestic licensing Hal Snik says, "We are so thrilled to partner with the innovators at Simmons Jewelry Co. for such a creative, and absolutely beautiful SpongeBob SquarePants jewelry collection in celebration of its 10th Anniversary year.

"Simmons Jewelry Co. has a unique ability to reinterpret iconic brands into beautifully crafted jewelry, and their work with SpongeBob is going to yield an absolutely gorgeous line appealing to die-hard fans and trendsetters."

Yellow is the new black this year, so it's time to get 'Happy Squared' in honour of the 10th anniversary of SpongeBob SquarePants. Kicking off during the 2009 Film Festival in Park City with the first-ever SpongeBob live cast reading, Nickelodeon will celebrate the pop culture icon throughout the year with TV specials, original online content and new lines of apparel, toys and games. SpongeBob also will be a featured part of Nick's multi-year pro-social campaign, The Big Green Help.