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1.
A sequel to a pre-existing motion picture obviously made solely for financial gain rather than based on demand or the artistic merit of the original.
Derived originally from "Alvin and the Chipmunks: the Squeakquel" (2009). Some other recent examples include:

Transformers 2: Revenge of the Fallen
Pink Panther 2
The Twilight Saga
by thatsasketch March 25, 2010
 
2.
The second fart that follows a loud flatulent outburst. Usually making a squeaking noise and of lesser magnitude.
I thought I only had to fart once today in class, but after the first one there was a follow-up squeakquel fart.
by lp1136 July 14, 2010
 
3.
A movie sequel that was made solely for the purpose to capitalize on the financial success of the first film, with no attempt to make a good movie.
The first movie was great, but they didn't try hard on the squeakquel, it was pretty bad.
by Sarcastic Person March 24, 2010
 
4.
Slang term for abortion.
my girlfriend is pregnant, and now i have to convince her to get a squeakquel
by dimoko February 04, 2010
 
5.
A sequel featuring rodents.
Alvin and the Chipmunks 2: The Squeakquel is the best sequel since Highlander 2: The Quickening.
by bondfool December 19, 2009