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Believed to be Austrailian in origin. Equivalent of grossed out or disgusted. Possibly rooted in 'sqeamish'.
When feral boy's bladed boomerang cut off the bandit's bookkeeper's fingers it was rather squinchy squanchy.

Kangaroo burgers?! Squinchy squanchy!
by SmugSockMonkey January 09, 2005
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