Air Squat!!!!
My aunt from kenya asked me about un weighted squats the other day.
here'a a link to a video from Crossfit that does a fabulous job of explaining the key points of the air squat:
http://media.crossfit.com/cf-video/CrossFit_AirSquats.wmv
when you can do 50 full depth air squats, start doing tabata squats!!!
example tabata squats:
http://media.crossfit.com/cf-video/sample2tabata.wmv
You should use a medecine ball or some other soft surface if you have an issue with not going deep enough on each rep.