To "Squange" something is to grab or squeeze an item visiously, usually approached with wide spread fingers and followed by a forceful groan after the initial grasp.
God damn man, I had this one bitch over my crib, she gave me the best brain and to top it all off she gave me the squange of a lifetime, jawn had made my whole body feelin like an angel touched my insides.
According to David Cross (an approximation):
SQUARE BAGELS! SQUARE FUCKING BAGELS! THIS IS THE NEW GENERATION'S BAGEL MAN. DON'T BE OPPRESSED BY THE TYRANNY OF ROUND! THAT'S FOR YOUR OLD MAN, MAN. LOOK AT HIM, HE DROPS HIS BAGEL AND IT ROLLS AWAY! BOO HOO! NOT ME, MAN, I DROP A SQUAGEL AND IT'S RIGHT FUCKING THERE MAN, IT'S RIGHT THERE! SO FUCK YOU MOTHER FUCK! FUCK YOU MOTHERRFUUCK!!!!!!!
Jim: Dude, I just had a squagel, it was pretty good.