Step one:
First draw half an oval and add a horizontal line.
Step 2:
Then draw two semicircles below and add black eyes.
Step 3:
Next to the eyes, draw a rectangular mouth.
Step 4:
Next, use arcs to draw the squids tentacles, which can be longer.
Step 5:
Then we have to draw a square highlight on the head, and use arcs to draw the sprayed ink.
Step Six:
Finally, apply a nice color and the squid is ready.