This One Time at Space Camp... - S4-E18
Other mistake: When Holly and Fargo are playing Dungeons and Dragons, Holly rolls a d20 die and yells, "Critical hit!" but we can see the 20 on one of the upper sides of the die, meaning that she actually rolled a 2, which is most definitely not a critical hit (and actually nearly a critical miss).
Chosen answer: It's basically just a type of suit that's made for whatever special project they're working on. No different than a lab coat, hazmat suit, fire coat, etc.