(A). A political joke, printed and circulated at election times against a candidate, with intent of bringing him into ridicule, and influencing votes.
“Parodies, lampoons, rightly named squibs, fire and brimstone, ending
in smoke, with a villainous smell of saltpetre.” —
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
More on Squib from Fact Monster: