The Gay Teen Squid is a powerful Prairie squid and Elder God. He (it) is summoned when the Gay Teen Squad combine their power rings together. It is cryptically referenced in early (pre-publication) versions of The Subgenius Psychlopaedia of Slack: The Bobliographon which were hung around Brushwood Folklore Center - though these references are partially cut from the final draft.
A variant of the lore states that combining the rings only makes the squid appear but he remains asleep. In this version, only a direct descendant of the Dobbs family can wake him by singing a holy song