Yep! According to the audio commentary included with an episode on the DVD boxset of the show’s first season, the Spongebob Squarepants characters are all based on the Seven Deadly Sins. I found out about this from “OMG Facts” (or @OMGFacts on Twitter), who puts out tweets informing you of things that most people don’t know (i.e. Babe Ruth kept a cabbage leaf under his cap to keep his head cool).
“OMG Facts”, despite their slightly derogatory name, usually gives out some great information. This one about Spongebob was a fun read because they tried to guess which character is which, and I think they hit it head-on.
Who knew Spongebob Squarepants had a Biblical reference hidden in it?
Can you guess which characters are which before you read the article?