adj

• (literally, of a physical material) Yielding easily to pressure; very soft.
  "The toy was soft and squishy, making it fun to squeeze."
• (literally, of a physical material) Yielding easily to pressure; very soft.
  "Finished with head and hair, the women pulled her up the bank to wash her body, the soft squishy mud registering for the first time on the outer consciousness of Isabelle’s mind."
• (figuratively)
  "How does the media love Twitter? Let us count the ways: as a tech platform practically indispensable to the work of newsgathering; as a metrics system designating clear numerical value to once-squishy concepts of popularity and esteem; as a gossip-fueled lunchroom of the elites more or less available for public participation; as an arena for duking out industry controversies ranging from #MeToo to opinions about opinion pages."
• (figuratively)

noun

• (colloquial) A squeezable stress reliever, especially one made of foam.
• (slang) A term of endearment.
  "“It’s going to be fine,” Mother said in her soothing motherly voice. “Is it?” I whispered. “Yes squishy Josh, it will,” she motherlily soothed me."