Verb: It describes the act of making a soft sucking sound, often associated with something wet being crushed or squeezed.
* Example: "The muddy boots squelched with each step."
Adjective: It describes something that is characterized by a squelching sound or feeling.
* Example: "The squelching mud clung to his shoes."
To determine the correct part of speech, you need to look at how the word is used in the sentence.