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Mermaidman & Barnacleboy are superheroes who used to have their own TV show. That is, until SpongeBob and Patrick got them out of retirement in the episode "Mermaidman and Barnacleboy." They save the town of Bikini Bottom by battling different villains, such as ManRay, The Dirty Bubble, and The Atomic Flounder.
Both heroes used to be a part of the I.J.L.S.A, the International Justice League of Super Acquaintances. Other members of I.J.L.S.A are Miss Appear, Elastic Waistband, Captain Magma, and the Quickster.
Today, they live in the Mermalair, a cave full of weapons and advanced technology, like a modern day Batman Cave. However, they used to live in Shady Shoals Retirement Home before coming out of retirement.
Throughout the series, Mermaidman and Barnacleboy would use a variety of weapons and super powers to defeat the villains, as seen below.

Talent Show

Anchor Toss Competition

The Prom

Annoy Squidward Day

Employee of the Month

Halloween Party

Annual Jellyfish Convention

Valentine's Day

Fancy Knotting Contest

Sundae on Sunday's for SpongeBob

Leif Ericcson Day

Employee Brotherhood Day

Sandy's Hibernation

Free Balloon Day

Christmas Party

Bubble Bowl

21st Fry Cook Games

Annual Hot Dog Chug

SpongeBob's House Party

Snail Race

Camping

Jousting Tournament

Mermaidman and Barnacleboy Movie Premier

Clarinet Recital

Pearl's 16th Birthday Party

Clammy Awards

Fiery Fist O' Pain

Dance-A-Thon

Important Food Critic Visits Krusty Krab

Chef's Exchange Program

Atlantis

Picture Day

House Fancy

Krusty Krab Semi-Annual Charity Night

Bikini Bottom Symphony Orchestra

National No SpongeBob Day

National No Patrick Day

Craig Mammalton's Annual Summer Shindig

Bikini Bottom Pet Show

Eleventy-Seventh Anniversary of Krusty Krab

BGATFBC

Krusty Krab Time Capsule

Bring Your Pets to Work Day

Spring Cleaning Day

Bikini Bottom Sleigh Race

Luxury Cruise

Bikini Bottom High School Dance

Inventor Convention

Kelpy G Concert

Demolition Derby

Bun Seed Counting Contest

Ned and the Needlefish concert