No. It's not the same "squashy" is not really a word. It would be "squishy". That would mean that when you press the package it is squishy (you can press it and it returns to form or doesnt change much). It would be present tense. "this is squishy". Squashed is past tense and it means its squashed and wont return to its original form. If something is squishy, its just soft and is easily squashed but not completely squashed already.