Most cellular solids presented random structure, while practically periodic models were often used in structure-property relations and numerical models. The finite element method was used to create a 2D random model that replicated the deformation characteristics of cellular models. The influences of porosity and strain rate on the deformation characteristic, energy dissipation mechanisms were investigated. The Poisson’s ratio evolution during compression was also studied. The simulated load-displacement curves were found to be consistent with experimental results, both containing elastic stage, plateau stage, hardening stage and densification stage. The yield load and plateau load were insensitive to the strain rate. In addition, it was also found that the generation and propagation of multiple random shear bands were responsible for the load-displacement characteristic. At the cell/membrane level, four failure modes and corresponding energy dissipation mechanisms were revealed. Moreover, the Poisson’s ratio decreased first and then increased with strain, which right manifested the compressibility of 2D foam in the initial stage and the densification in the end of compression. Meanwhile, the change of the Poisson’s ratio with porosity didn’t follow monotone function relation.