When decorated with plasmonic nanoparticles, pulled optical nanofibers are compatible with plasmonic techniques enabling the ability to probe microenvironments with high spatial and temporal resolution. Although the nanofibers exhibit excellent compatibility for biological samples including cells and tissues, the underlying interactions between the dielectric fiber, plasmonic nanoparticles, and the incident light have been minimally explored. It is shown that the complex coupling of optical and plasmonic properties within the nanofiber strongly influences both the surface‐enhanced Raman scattering (SERS) and photothermal capabilities. Through a combination of experimental results and simulated electric field distributions and spectra it is demonstrated that, although the nanofibers may be homogeneously decorated with gold nanoparticles, the optical effects spatially differ. Specifically, the SERS performance varies periodically based on the diameter of the nanofiber, which is associated with ring resonator modes, while the photothermal effects are more homogeneous over the same diameters, highlighting differences in optoplasmonic properties at this length scale. Through understanding these effects, it may become possible to control temperatures and SERS properties to evaluate processes with micrometric spatial resolution, such as the analytes secreted during temperature‐induced death of single cells.