The type of squat to use for LG is the Hindu Squat. Its apparently different than what most people think of when they think of squats. Done properly the HS is actually quite aerobic.
To perform an HS start off with your feet about shoulder width and your arms at your sides. Your arms will move in s somewhat circular fashion and will assist you in getting back up. From the standing position start to go down, bending only at the knees and bring your arms slightly behind you. When you get to the bottom of the motion, swing your arms in front and up, and bring yourself up with your legs so that your arms are horizontal to the floor at the same time as you get back up to the standing position.
This video gives a good demonstration. For the record, he does them faster than I do, so no worries if you find that you can't keep up. Mine look more like the slow motion ones in this video.
Its a pretty easy exercise that will give you some cardio and work on your legs and balance at the same time. And tho they are easy to do, they really are a good workout.