To make the squid, first start by laying a sock heel up and flat as illustrated.
Cut out (along the red dotted line) the heel and a wide strip out of the middle of the toe.
Now cut small 3 small slits under where you cut out the heel. One in the center an inch or so under the heel, and one on both sides. This will make the neck once it is sewn back up.
For the squid's tentacles:
Cut the bottem of the sock into 8 strips. I think mine only has 6 tentacles. You can make yours have any number of tentacles. Be sure you give yourself some room in between the strips and where you cut slits for the neck.
Now trim the bottem of each of the 8 strips so that they are rounded at the bottem.
Now, you are gonna need a piece of fabric to sew to the bottem of your squid's tentacles. To do this I placed the now very mutilated sock onto the fabric I wanted to use , making sure all the strips I cut were evenly spread in a circle, and traced around them with chalk. You also need an oval shaped peice to go in the hole where the heel used to be. After you have traced out and cut the piece for the bottem of your tentacles and heel(which will become the face) you should have something that looks like this.
Now that we have everything cut it's time for some sewing. Turn your sock inside out. Sew up the slits you made for the neck. Sew (along the dotted line) the chunk you cut out of the toe. Next sew the bottem of your tentacles on. Turn the sock right side out again. Stuff with pollyfill. Now sew on the oval piece where the heel used to be.
Sew on button eyes and...
You have a squid.