Hold up, fish guts! You can't insult us! (The seagull crew!)
(Dolphins eat fish, as well as swim with them, so the seagull says Bubbles the dolphin has the intestines of fish. He also thinks they can't be taunted by Bubbles since they are a group of birds rather than a single one.)
We're in no mood to hear *dolphin sound* from you!
(The seagulls don't care for any disses Bubbles has to say. When the profanity is censored, a dolphin sound effect often used in SpongeBob SquarePants is played, most notably in the episode "Sailor Mouth" in which it is used to censor a curse word. This is also a reference to how the seagull is battling a dolphin so he has to hear the dolphin sound.)
We're flying on the breeze, partying seven seas!
(Seagulls are often seen flying around the world near the oceans.)
You got your nose on your head! (You blow up when you sneeze!)
(Dolphins have blowholes on the top of their heads. Whenever they breathe, water sprays out of their blowholes. The other seagull is saying that if dolphins sneeze while having consumed water, the water released would be eruptive. Also, the water would be blown upwards.)
(Hey, why's this guy so mean?) 'Cause he's older than a fossil.
(One of the seagulls is questioning the dolphin's behavior, and the other seagull says it's due to his old age, as Bubbles stated he's over 10,000 years old in the movie. Old people are stereotypically grumpy.)
All alone up in space. (Yeah, that must be awful!)
(Bubbles lives in space, where it is lonely due to a lack of other life forms. In the battle, he is seen crying from his solitude.)