squeezable
Soft enough to press in with your hands.
Squeezable describes something soft and flexible enough to press inward with your hands. A stress ball is squeezable because you can grip it tightly and watch it compress, then spring back to its original shape. A tube of toothpaste is squeezable: you push on it to force the paste out through the opening.
The word usually suggests something pleasant or satisfying to squeeze. Stuffed animals are wonderfully squeezable, which is partly why young children love them so much. Fresh bread at the bakery might be squeezable if it's soft and pillowy. Pet owners often describe their cats or dogs as squeezable when they're especially cuddly and soft.
Things that are not squeezable include rocks, wooden blocks, or anything rigid and hard. You can't squeeze them inward no matter how hard you try. Some things are technically squeezable but unpleasant to squeeze, like a wet sponge full of dirty water.
The word captures both a physical quality (the ability to be compressed) and often an emotional response (the desire to squeeze something because it seems soft, cute, or comforting). When someone says a baby's cheeks are squeezable, they mean those cheeks look irresistibly soft and cuddly.