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1.
The act of stealing.
"Hey, hurry up and Squonch that CD before an employee catches you!"
by "Sketchy" Mike Z April 04, 2006
 
2.
anytime during sex when a mans balls get smashed between himself and his partner this action is called a squonch.
Johnny was hitting it hard then lost his balance and that was when he received his first squonch...
by ithunder9 childress February 27, 2010