A Squib was a human who was born with at least one magical parent, but did not inherit magic from said parent. A wizard or witch child would typically show signs of magical abilities at seven years old; any child who did not was very likely a Squib, though they were possibly late-bloomers.
Can two Squibs have a magical child?
Two Squibs cannot have a Squib child, but they can have a Muggle child, which I would say is extremely likely. Not a Squib child though, because by definition, a Squib must have a magical parent.
Are Squibs Muggles?
A Squib, also known as a wizard-born, is a non-magical person who is born to at least one magical parent. Squibs are, in essence, 'wizard-born Muggles. ' They are rare and are looked upon with a degree of disdain by some witches and wizards, particularly pure-bloods.