You can't. It's impossible to catch the giant squid. There is no way to interact with it at all, since you can only move left, right, up, and down. The squid is behind you. Visit my full answer that is in response to a related giant squid question at:
Where is the giant squid on Club Penguin/
The question asks where the squid is, and my answer is slightly more detailed than the guy who asked wanted...I guess it might fit this one slightly better. Also, the squid has come up in the Puffle Rescue game down at the Mine. It is found on level three, with the black puffle(for members only)...on the very first level, when you grab the black puffle, the same squid you see in aqua grabber, only seemingly bigger up close, rolls out from under you, heading forward. You have to follow it and not sink, by getting over the giant bubbles it causes underwater, so when it pops as it reaches the surface, as it is under you, it launches you in the air. Keep this up by not sinking, and you eventually reach a cove. You are able to sit on a ridge, as the squid disappears under a ridge you can't go under. Now unrelated to your question, if you follow the ridge left, you reach a secret staircase, and when you go down then, they lead to the Underwater Room, where you can find the Moss key pin, which allows you to visit the underwater room again without having to repeat that process...
To see the giant squid on club penguin just go play aqua grabber! Oh and if you do see the squid you get a stamp.
You wait at the bottom
play 5 times, and on the 5th time, it will show up
If your meaning the aqua grabber squid then i don't know but if you're meaning the suit that's easy if the play squidzoid vs Shadow guy and gamma girl then go to the costume trunk at buy it from their.
Once you grab the black puffle, follow the giant squid shadow. You can use the bubbles to float yourself back up.
To see the giant squid on club penguin just go play aqua grabber! Oh and if you do see the squid you get a stamp.
if u a member go to soda seas u will see it
well if you actually catch it bring it to the net and you will get a large coin reward
it kills you
A giant squid period
You have to spot the squid in the corner at the bottom of Aqua-Grabber.
You wait at the bottom
There is not a squid you can find.
Some think it is the guardian of the third aqua grabber level, which has not come out yet. The answer is nobody knows.
Nobody knows its a mystery
play 5 times, and on the 5th time, it will show up
you just wait but i think i got lucky