In tug of war games, when both teams pull the rope with equal and opposite forces, the rope remains in place
The forces acting on the rope are equal and opposite, resulting in a zero resultant force
When you squeeze a rubber ball between the palms of your hands:
The shape of the rubber ball changes
The forces applied on the ball are equal and opposite
The resultant of these forces does not lead to motion, instead, the object gets deformed and continues to be deformed as long as the force is applied
This deformation is temporary