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2.
It's a Fanagalo word (language that developed in the minefields of South Africa) meaning sister-in-law.

But it can be used as a loose term to refer to a female friend or acquaintance. Maybe even your girlfriend.
"aita squeeza, lets go catch a movie"
بواسطة jefry يناير 10, 2008
 
1.
a term refering to a close personal friend or partner.
I am hanging out with my squeeza(s); I like her, she is my squeeza.
بواسطة LHGUNNY اغسطس 10, 2006
 
3.
one who pulls his bean, is a bullshit artist 24/7
Shit Daniel is such a squeeza. you know yesterday he told me he did a sheep.
بواسطة Randomised ابريل 3, 2006