Within the new description of the polarization structure of quantum light (given in Part I) some types of generalized coherent states related to the polarization SU(2) group are examined. With their help we give a quasiclassical description of polarization properties of light fields and discuss the concept of squeezing and uncertainty relations for multimode light in the polarization quantum optics. As a consequence, a new classification of polarization states of quantum light is obtained. We also derive geometric phases acquired by different quantum light beams transmitted through "polarization rotators".
The concept of squeezing and uncertainty relations are discussed for multimode quantum light with the consideration of polarization. Using the polarization gauge SU(2) invariance of free electromagnetic fields, we separate the polarization and biphoton degrees of freedom from other ones, and consider uncertainty relations characterizing polarization and biphoton observables. As a consequence, we obtain a new classification of states of unpolarized (and partially polarized) light within quantum optics. We also discuss briefly some interrelations of our analysis with experiments connected with solving some fundamental problems of physics.