I have rounded out the tentacles and added eye sockets onto the model. Adding the edge loops to make the eye sockets seems to have defined the squid to look malnourished. This isn’t great, especially since it looks more creepy than cute now, but it is acceptable as the tentacles are also smaller and a little different to the original concept art.
I have smoothed out the model, which has added a great deal of polygons to the mesh so next I will be using the quad draw tool to create a model over this one with far fewer polygons.