"Wormholes" is one of the two shorts films (the other being The Green Beret, which is found on YouTube)) created and produced by SpongeBob SquarePants creator Stephen Hillenburg (1961-2018) at CalArts in 1992.
Aside from it and The Green Beret having been exhibited internationally in such festivals as Annecy, Hiroshima, Ottawa, Oberhausen and the Los Angeles Animation Celebration, Wormholes had not surfaced online in any form. Only a photo can be found.
EDIT 1:Some clips are seen in the SpongeBob DVD The Complete First Season special feature The Story of SpongeBob Square Pants.
EDIT 2: Found here is the link