Definition of punch-out in US English:

punch-out

noun

North American
  • 1A token redeemable at a company store, etc., given as payment to employees. Compare "scrip". Now historical.

  • 2A hole or perforation made by punching; a piece of material removed by punching a hole.

  • 3A boxing match; a fist fight or brawl; = "punch-up".

  • 4Baseball= "strike-out".

adjective

North American
  • Designating a cardboard or paper model, picture, or shape which is loosely attached to a surround so that it may be pressed out by hand, especially as a children's activity.

Origin

Late 19th century; earliest use found in Acts Tennessee. From punch + out.

Pronunciation

punch-out

/ˈpʌn(t)ʃaʊt/