The most common and most likely answer to this crossword clue is the 5 plus 4 letter word CLOSE CALL
I've seen this crossword clue in The Times
C
L
O
S
E
C
A
L
L
More clues leading to the result CLOSE CALL
- Wind up everybody outside about narrow escape
- End phone conversation in squeak?
- Wind up cold with every narrow squeak
- Conclusion that’s around 50-50?
- Shut up about everyone’s narrow escape
- Hang up near thing
- Ring off — that’s a lucky escape
- End with a shout and a squeak
- Appeal following end of cliffhanger
- Primarily careless, misplace ring leading to difficult decision
Buddy explains!

The straight part
We know that "squeak" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case squeak = close call.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.