Hello. I am Peter Griffin from the american cartoon on Adult Swim, Family Guy. Today I will explain this joke. So the reason for its spelling is because it is spelled in the International Phonetic Alphabet, also known as the IPA, it is spelled like this in IPA, /aɪ pʰi eɪ/. IPA was invented to support almost every sound a human is physically capable of making whilst speaking, so it uses mostly normal of modified Latin and Greek letters. The text spells out "le kring" in IPA, in which the r is rolled instead of it being not rolled, in which it would be ɹ, an upside-down varient. The reason for the image is to show that the creator of this meme has cringed at your meme, depicted as Patrick Star from another american cartoon, however instead made by Nickelodeon, SpongeBob SquarePants. Goodbye.