Drag, pinch and push the bubbles to deform the image.
You can save the image to the Photo Library by tapping on the Film icon in the upper right side of the screen.
Squeeze it PRO doesn't add the "Made with Squeeze it" text on the saved images
Then you can email it or use it as a photo for a contact in your Address Book.
You can also use one of the saved images as a starting image for a new Squeeze by picking it from the Photo Library.