shape shows speed and impact
Squash and stretch scales an object along its direction of motion. It stretches while it moves fast and flattens for a moment when it lands, and the other axis gets the inverse scale so its size looks constant. Both balls here follow the same bounce, and only the right one shows the speed and the impact in its shape.
Add squash and stretch to the sprite: scale it up to about 1.3 along its velocity when it moves fast, squash it to about 0.7 on landing and ease back to 1 within 0.15 s, give the other axis the inverse scale so its area stays constant, and pivot at the feet so it stays on the ground.