1. A word with no definite meaning. It can be substituted in place of any noun, adjective, or verb. Most commonly used in a insulting manner, i.e. light profanity.
2. (noun) A shrill screech, usually accompanied by a juicy squish, that is emitted by a wounded hamster just before being liquefied in a blender.
(adj) - "I made this lovely dessert for you, consisting of vanilla ice cream and freshly-cut squice berries."
(verb) - "I squiced your girlfriend last night, and DAMN, she's a screamer."
2: "The sound that guy made when I ran him over with my car resembled the squice of a dying hamster."