Soft body against soft body is extremely challenging. Remember bullet is a GAME physics engine. Jiggly junk is definitely possible. But remember you'll have to pair this with dynamic cloth. Getting an identcal simulation projected into clothing is not likely.

I am working on more tutorials that will cover more advanced physics simulations. Here's a teaser. I'm working on the tutorial explaing how to do this now:

http://youtu.be/9SsJcLYWSD8