Slime Like Physics In UE4?

Greetings…

I want to emulate slime like physics in unreal engine 4. Right now, I am absolutely clueless regarding the procedure to do so. I want a brief procedure which highlights the tools in unreal engine 4 which would be essential during the process.

There are two main features which I want in my character:

  1. Malleability: After getting squashed, it can restore its body shape
  2. Fluidity: Has fluid like movements

An out of context question: Are there any 3d modelling limitations?

Some video references:
From A video game

A cartoon

I believe everything on that game video was made simply by using bone animations. UE4 supports non-uniform scaling in skeletal animations, which makes this possible without using morphtargets and etc.