Squishy thing on my wisdom tooth gum, what is this?

Operculum: The flap a tissue covering your wisdom tooth is known as an operculum. This this can be cut off. Often it is difficult to keep the wisdom teeth clean with that excess tissue.

Possible follicle or: The wisdom tooth develops from a bud of tissue enclosed within a follicle of tissue. As the wisdom tooth migrates toward the surface, an enlarged follicle or possible cyst can sometimes produce a soft compressible sensation in the tissues overlying the wisdom tooth. An clinical exam and appropriate x-rays by your dentist can help diagnose the problem.