A squeeze is a bluff made pre-flop in the form of a large raise after there has already been one raise and at least one caller. After one player raises and at least one other player cold calls, a heavy re-raise is made: it is called a squeeze.
The idea behind this move is that the open raiser will find himself squeezed between you and the cold callers not knowing how they will react. The remaining players will rarely have a hand strong enough to call with. Your attack to the dead money in the pot will frequently be successful.
Note that you need to have a strong tight table image and it makes no sense to make this move if the opposition is very loose or the initial raising player only raises a few hands, so that he will rarely fold them.
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