Bonk's particular group of Jokerz (the group is divided into several different gangs) find themselves in the employ of the supposed original Joker who sends them out to steal hi-tech machinery, all as part of a master plan that he does not reveal to his underlings. The gang attempt to steal a systems scanner that the Joker plans to use as part of a satellite jamming system, but Terry McGuiness - the new Batman tutored by Bruce Wayne - stops the robbery. Bonk is particularly aggravated by this defeat, but moreso because the Joker won't share the details of his plan with them.
Bonk decides to back out of the Joker's scheme, but then the Joker threatens him with a gun. He pulls the trigger only for a BANG! flag to pop out, showing that he's only playing around. However, the Joker's not playing around in this case. He pulls the trigger again and the flag spear shoots out and embeds itself in Bonk's heart, killing him. The spear was also apparently coated in Joker's signature toxin as Bonk's corpse is later seen to be grinning.
In the cut version of the film, Bonk is not impaled by the flag spear but instead the gun fires a burst of Joker gas. Bonk is seen lying across the table laughing uncontrollably, but unlike in the uncut version, his friends do not drag his body away so it is left ambiguous as to whether or not Bonk is truly dead. Considering this is the Joker he was dealing with and the fact that he never appears again in the film, his death is all but assured.