Classic Cartoon About a Guy and a Pearl

Hey all, I was curious about finding an old cartoon I watched when I was young, and I was pretty sure someone here could help me. I watched it back in the early spring or summer of 2005 or 2006 on Boomerang, and I was only 4 or 5. The cartoon was animated in an archie-like style, and it was about a guy who wanted to get rich. One day, as he was sitting on the edge of a dock, he saw a large pearl under the water, and he dove for it. As he had just gotten it, a large clam or oyster attacked the man, and he had to get a peg leg. This kept going on for a few minutes, and the guy kept getting more and more of him replaced until he was nothing but a head in a robotic body. He had finally gotten the pearl on his latest attempt, but after realizing all he had gone through, he moped around a bit and tossed it back, sitting on the dock as the end card showed up.