I agree the squash and stretch principle is vital to all cartoons because it allows the characters to portray extreme emotion whether it is being excited or angry. All cartoonists have used it at somepoint. If someone said squash and stretch to me in referance to a cartoon I would think exaggeration, because that is purely what it is. It is an exaggeration of the characters feelings, it is the artist making sure that we understand exactly what the character is feeling.