Soft Body Physics

Hey , I created a beautiful scene like in LocoRoco however now the difficult time has come and I realised I need to have my character (A blob) to be all soft so that when it collides with objects he will react like a blob however this is only possible with "Soft Body Physics" and I like to know is it possible in Multimedia Fusion 2 to create a blob moreover I am using Vector Graphics which is being created using Inkscape and the animation being created in SwishMax.

Short Question : How do I create a blob with soft body physics?

By the looks of things Phizix Chipmunk object supports rigid body physics however it has its limitations such as you can't break or split objects :( , Perhaps its possible to create a blob using a Mass Spring System with mutliple vertex's .

Thanks I really appreciate your help :)