Plans for a huge ice rink covering the town square during the Christmas festivities have been shelved following fears it would pose too great a danger to the public.
One Petersfield market stall holder thought he had the answer to the problem, however, while at the same time making him a small fortune.
Mr Squarepants, who runs the market stall that stocks foam, but never seems to sell any, proposed that the iconic statue be wrapped in foam for the event, thus protecting the skaters from its hard angled edges.
But haberdasher Matt Tress, complained that the large rink would reduce the number of shoppers that could fit into the centre of town, having an adverse effect on his takings.
Members of the Festivities Committee could not come to an agreement over the issue and the ambitious plan was shelved.
The good news for the Petersfield public is that anybody needing foam will inevitably see Mr Squarepants, surrounded by his never changing stock, at the weekend.