The scene is from the episode "The Fry Cook Games" from the second season of SpongeBob SquarePants and it obviously involves SpongeBob and Patrick trying to wrestle to death until they realize what they've done and just settle things out with a long hug...which is pretty much like what we kept seeing in Mayweather vs. Pacquiao minus the "let's be friends again" ending of course.
This episode of SpongeBob SquarePants came out in 2001, nine years before the negotiations for the Mayweather vs. Pacquiao fight started and eight years before Bruno came out.
(On a side note, I can't help but wonder, is this what inspired the cage match scene from "Bruno"?)