In the past, adaptive tuned vibration absorbers (ATVAs) based on magnetorheological elastomers (MREs) have mainly been developed in a shear working mode. The enhancing effect of MREs in squeeze mode has already been investigated, but ATVAs in squeeze mode have rarely been studied. This paper reports the development of a compact squeeze MRE absorber and its subsequent performance in various magnetic fields characterized under various frequencies by a vibration testing system. The results revealed that the natural frequency of the MRE absorber working in squeeze mode can be tuned from 37 Hz to 67 Hz. Following this, a theoretical model based on magnetic dipole theory was developed to investigate the dynamic performance of the squeeze MRE absorber, and the vibration attenuation of the squeeze MRE absorber was then verified by mounting it on a beam with supports under both ends. The results revealed that the squeeze MRE absorber extended its vibration attenuation range from 37 Hz to 67 Hz while the passive absorber was only effective around 53 Hz.