The name given to a person(usually by his mother) with a small Penis. If your friends call you squishbug, they are not really your friends, and you should go jerk your little bean in a corner. You may think this name is cute, but if you do its because of your ADHD.
Girl 1- Im gonna hang out with squishbug tonight!
Girl 2- Oh, thats the guy with the microscopic junk right?