To me, there are a lot of factors that depend on the players and whether I'm in position or not. Are the players tight-aggressive? loose? Inexperienced? A tight player might could be made to fold by raising 4-5x their bet if I'm in position, more if I'm out of position. A loose player could take a bigger bet to get them to fold. Is your stack big enough to apply pressure to the player without hurting you? The players' stack size is another factor. If either of the players is short, I'm reluctant to squeeze with a marginal hand (because they might go all-in which could put me in a predicament), unless I've got them covered and/or it is near the bubble in a tournament. Regarding my stack size, it would be dangerous to squeeze with a 40bb stack. I wouldn't attempt it with a 25bb stack; that's all-in territory.