The Collaborative International Dictionary of English v.0.48:

Squid \Squid\ (skw[i^]d), n. [Cf. Squirt.]
   1. (Zool.) Any one of numerous species of ten-armed
      cephalopods having a long, tapered body, and a caudal fin
      on each side; especially, any species of Loligo,
      Ommastrephes, and related genera. See Calamary,
      Decacerata, Dibranchiata.
      [1913 Webster]

   Note: Some of these squids are very abundant on the Atlantic
         coast of North America, and are used in large
         quantities for bait, especially in the cod fishery. The
         most abundant of the American squids are the northern
         squid (Ommastrephes illecebrosus), ranging from
         Southern New England to Newfoundland, and the southern
         squid (Loligo Pealii), ranging from Virginia to
         Massachusetts.
         [1913 Webster]

   2. A fishhook with a piece of bright lead, bone, or other
      substance, fastened on its shank to imitate a squid.
      [1913 Webster]

   Flying squid, Giant squid. (Zool.) See under Flying,
      and Giant.

   Squid hound (Zool.), the striped bass.
      [1913 Webster]

WordNet (r) 3.0 (2006):

squid
    n 1: (Italian cuisine) squid prepared as food [syn: squid,
         calamari, calamary]
    2: widely distributed fast-moving ten-armed cephalopod mollusk
       having a long tapered body with triangular tail fins