(Valid for $n\geq p \geq 1$)
Basically, I'd like to exhibit two sets, one with cardinality ${{n+p} \choose p}^2$, another one with cardinality $\sum_{k=0}^p {p \choose k}^2 {{n+2p-k}\choose {2p}}$ and find a bijection between the two.
Defining $C_{k}^{n}$ as the subsets of $\left \{ 1,...,n \right \}$ with cardinality k, it is clear that $(C_{p}^{n+p})^{2}$ has a cardinality of ${{n+p} \choose p}^2$, and that $\bigcup_{k=0}^{p}\left ( (C_{k}^{p})^2 \times C_{2p}^{n+2p-k}\right )$ has a cardinality of $\sum_{k=0}^p {p \choose k}^2 {{n+2p-k}\choose {2p}}$, but I'm unable to find a bijection between the two sets.
The right-hand side counts the number of ways to choose two subsets $A,B$ of $[n+p]$, of size $p$ each. Let $t = |A \cap B|$, and write the $2p-t$ elements of $A \cup B$ in sequence: $\vec{x} = x_1,\ldots,x_{2p-t}$. Suppose that among the first $p$ elements, $p-k$ elements belong to $A$, forming a set $A'$, of which $\ell$ also belong to $B$, say of positions $i_1,\ldots,i_\ell$ inside $A'$. We add the elements $n+p+i_1,\ldots,n+p+i_\ell$ to $\vec{x}$. Among the $p-t$ elements $x_{p+1},\ldots,x_{2p-t}$, there are $p-k-\ell$ elements that belong to $B$, forming a set $B'$, of which $t-\ell$ also belong to $A$, say of positions $j_1,\ldots,j_{\ell-t}$ inside $B'$. We add elements number $j_1,\ldots,j_{\ell-t}$ of $\{n+p+1,\ldots,n+2p-t\} \setminus \{n+p+i_1,\ldots,n+p+i_\ell\}$ into $\vec{x}$.
After all the additions, $\vec{x}$ consists of $2p$ indices in $[n+2p-t]$. In order to decode $\vec{x}$ back into $A,B$, we need some additional information. First, we need to know which $p-k$ of $x_1,\ldots,x_p$ belong to $A$. Second, we need to know which $p-k$ of $x_{p+1},\ldots,x_{2p}$ belong to $B$; a chosen element beyond $[n+p]$ indicates an element of $B$ which comes from $A'$, and a non-chosen element beyond $[n+p]$ indicates an element of $A$ which which comes from $B'$. We have reached the left-hand side.
The confused reader might consider the following simpler identity first: $$ \sum_{k=0}^p \binom{p}{k}^2 \binom{n+p}{2p} = \binom{n+p}{p} \binom{n}{p}. $$ The right-hand side counts the number of ways to choose two disjoint subsets $A,B$ of $[n+p]$, each of size $p$. Given the $2p$ elements $x_1,\ldots,x_{2p}$ of $A \cup B$ and $k := |\{x_1,\ldots,x_p\} \cap B|$, we can decode $A,B$ given $\{x_1,\ldots,x_p\} \cap A$ (encoded as a subset of $[p]$ of size $p-k$) and $\{x_{p+1},\ldots,x_{2p} \cap B$ (encoded as a subset of $[p]$ of size $p-k$).