Hi GeminiEngine
This will extract a squashed file to a directory called  squashfs-root  in the directory you are currently in:
unsquashfs FilenamePrecede  Filename  with a path if it's in a different directory.
This will extract a squashed file to a directory called  george  in the directory you are currently in:
unsquashfs -d george FilenamePrecede  george  with a path if you want it in a different directory.
Many commands also have some form of help built in, such as:
tc@box:~$ unsquashfs --help
SYNTAX: unsquashfs [options] filesystem [directories or files to extract]
        -v[ersion]              print version, licence and copyright information
        -d[est] <pathname>      unsquash to <pathname>, default "squashfs-root"
        -n[o-progress]          don't display the progress bar
        -no[-xattrs]            don't extract xattrs in file system (default)
        -x[attrs]               extract xattrs in file system
        -p[rocessors] <number>  use <number> processors.  By default will use
                                number of processors available
        -i[nfo]                 print files as they are unsquashed
        -li[nfo]                print files as they are unsquashed with file
                                attributes (like ls -l output)
        -l[s]                   list filesystem, but don't unsquash
        -ll[s]                  list filesystem with file attributes (like
                                ls -l output), but don't unsquash
        -f[orce]                if file already exists then overwrite
        -s[tat]                 display filesystem superblock information
        -e[f] <extract file>    list of directories or files to extract.
                                One per line
        -da[ta-queue] <size>    Set data queue to <size> Mbytes.  Default 256
                                Mbytes
        -fr[ag-queue] <size>    Set fragment queue to <size> Mbytes.  Default
                                256 Mbytes
        -r[egex]                treat extract names as POSIX regular expressions
                                rather than use the default shell wildcard
                                expansion (globbing)
Decompressors available:
        gzipand:
tc@box:~$ mksquashfs --help
SYNTAX:mksquashfs source1 source2 ...  dest [options] [-e list of exclude
dirs/files]
Filesystem build options:
-comp <comp>            select <comp> compression
                        Compressors available:
                                gzip (default)
-b <block_size>         set data block to <block_size>.  Default 4096 bytes
-no-exports             don't make the filesystem exportable via NFS
-no-sparse              don't detect sparse files
-no-xattrs              don't store extended attributes (default)
-xattrs                 store extended attributes
-noI                    do not compress inode table
-noD                    do not compress data blocks
-noF                    do not compress fragment blocks
-noX                    do not compress extended attributes
-no-fragments           do not use fragments
-always-use-fragments   use fragment blocks for files larger than block size
-no-duplicates          do not perform duplicate checking
-all-root               make all files owned by root
-force-uid uid          set all file uids to uid
-force-gid gid          set all file gids to gid
-nopad                  do not pad filesystem to a multiple of 4K
-keep-as-directory      if one source directory is specified, create a root
                        directory containing that directory, rather than the
                        contents of the directory
Filesystem filter options:
-p <pseudo-definition>  Add pseudo file definition
-pf <pseudo-file>       Add list of pseudo file definitions
-sort <sort_file>       sort files according to priorities in <sort_file>.  One
                        file or dir with priority per line.  Priority -32768 to
                        32767, default priority 0
-ef <exclude_file>      list of exclude dirs/files.  One per line
-wildcards              Allow extended shell wildcards (globbing) to be used in
                        exclude dirs/files
-regex                  Allow POSIX regular expressions to be used in exclude
                        dirs/files
Filesystem append options:
-noappend               do not append to existing filesystem
-root-becomes <name>    when appending source files/directories, make the
                        original root become a subdirectory in the new root
                        called <name>, rather than adding the new source items
                        to the original root
Mksquashfs runtime options:
-version                print version, licence and copyright message
-recover <name>         recover filesystem data using recovery file <name>
-no-recovery            don't generate a recovery file
-info                   print files written to filesystem
-no-progress            don't display the progress bar
-processors <number>    Use <number> processors.  By default will use number of
                        processors available
-read-queue <size>      Set input queue to <size> Mbytes.  Default 64 Mbytes
-write-queue <size>     Set output queue to <size> Mbytes.  Default 512 Mbytes
-fragment-queue <size>  Set fragment queue to <size> Mbytes.  Default 64 Mbytes
Miscellaneous options:
-root-owned             alternative name for -all-root
-noInodeCompression     alternative name for -noI
-noDataCompression      alternative name for -noD
-noFragmentCompression  alternative name for -noF
-noXattrCompression     alternative name for -noX
Compressors available and compressor specific options:
        gzip (no options) (default)