Download B-Soft Body Deformation FREE Unity. 

A simple script that allows meshes to be deformed by impacting objects and update collision dynamically.

Features:
~Simple to use – add the BSoftBody component to any game object with a mesh filter and collision
~Fast – Can be optimized to deform about 30K triangles in about 1-2 milliseconds (results may vary depending on CPU)
~Inspector settings complete with tool-tips to help adjust the deformation to your liking
~Collision can be updated dynamically
~Deformations can be made using raycasts or by impacting colliders
~Source code can be modified if you fancy