It's unknown what's the lore or story of the Purple Spy is, but given the fact that the Shmad Shmagazine is a parody of MAD, is implied that the Purple Spy has the same lore of the spies he's based after, it's unknown if he has a rival, like the spies.
The Purple Spy appears for the first time in the tale "Comix It Up!", from "Gravity Falls: Lost Legends," when Dipper, Mabel, Ford, Wendy and Soos where looking for Stan, they land in the universe of the Shmad Shmagazine, Ford inmediately sees this guy and demands him if he has watched his twin brother Stan, he answers yes, but he'll tell him where he is only if Ford and the gang catch him first, while attacking Ford with a boxing glove. After that, the gang start to pursuit him, while he attacks them with random objects.
After many comics and mangas, they finally manage to catch him up in the superhero comic "The Indestructi-Buddies", where he hides behind the superheroes. The gang finds him, but not before engaging a battle with the enraged superheroes because Mabel tampered with their quips at the beggining of the tale. After the battle, the Purple Spy attempts to retreat, but Ford catches him and demands him again to tell him where Stan is, the Purple Spy merely blows up a bomb on Ford's face making Ford, Dipper, Mabel, Soos and Wendy blasting-off and getting separated until the climax of the tale. It's unknown what has been of the Purple Spy afterwards, because he doesn't appear for the remainder of the tale.
The Purple Spy is entirely in purple, even when he goes to other comics. He has a triangular head with a pointy nose and wears, it seems a purple jacket, with purple pants and shoes, due the way he's drawn it's unknown if he even has clothes on, but gives that impression. The only clothes visible on him are his hat, which are a purple fedora and circular thick spiral glasses. He wears a flower pin that can spit Boxing Gloves, that flower is the only non-purple part of his body. Ford describes him as a "pointy man with a fedora and no respect for the laws of physics".
- Gravity Falls: Lost Legends ("Comix It Up!")
- He's a parody of the White and Black Spies from the Spy vs. Spy comics from MAD Magazine and MAD tv show.