We report the first direct experimental characterization of continuous variable quantum Stokes parameters. We generate a continuous wave light beam with more than 3 dB of simultaneous squeezing in three of the four Stokes parameters. The polarization squeezed beam is produced by mixing two quadrature squeezed beams on a polarizing beam splitter. Depending on the squeezed quadrature of these two beams the quantum uncertainty volume on the Poincaré sphere becomes a "cigarlike" or "pancakelike" ellipsoid. DOI: 10.1103/PhysRevLett.88.093601 PACS numbers: 42.50.Dv, 42.65.Tg The quantum properties of the polarization of light have received much attention in the single photon regime where fundamental problems of quantum mechanics, related to Bell's inequality and the Einstein-Podolski-Rosen (EPR) paradox, have been examined [1]. In comparison quantum polarization states in the continuous variable regime have received little attention. Grangier et al.[2] generated a polarization squeezed beam using an optical parametric process to improve the sensitivity of a polarization interferometer. Other schemes using Kerr-like media and optical solitons in fibers have also been proposed [3,4] but have not yet been produced experimentally. This paper presents the generation of a new polarization squeezed state. A stably locked beam with better than 3 dB of squeezing in three Stokes parameters simultaneously was produced utilizing two bright quadrature squeezed beams. We present the first direct characterization of the polarization quantum noise on a continuous wave light beam allowing an experimental observation of polarization commutation relations in the continuous variable regime.Both the production of new continuous variable quantum polarization states and the ability to accurately characterize them are necessary for these states to fulfill their potential in the field of quantum information. They can be carried by a bright laser beam providing high bandwidth capabilities and therefore faster signal transfer rates than single photon systems. Perhaps surprisingly they retain the single photon advantage of not requiring the universal local oscillator necessary for other proposed continuous variable quantum networks. Mapping of quantum states from photonic to atomic media is a crucial element in most proposed quantum information networks. Continuous variable polarization states are the only continuous variable state for which this mapping has been experimentally demonstrated [5].The polarization state of a light beam in classical optics can be visualized as a Stokes vector on a Poincaré sphere ( Fig. 1) and is determined by the four Stokes parameters [6]: S 0 represents the beam intensity whereas S 1 , S 2 , and S 3 characterize its polarization and form a Cartesian axes system. If the Stokes vector points in the direction of S 1 , S 2 , or S 3 the polarized part of the beam is horizontally, linearly at 45 ± , or right-circularly polarized, respectively. The quantity S ͑Sis the radius of the classical Poincaré sphere and the ...