[boxing slang] A Punch-Out is a slang term in professional boxing referring to a boxer who boasts and taunts his opponent but can not hold his own in the ring in actual boxing competition. Informally defined, it could be best described as being able to `talk the talk` but not back it up in the ring. It may also refer to a training exercise,... Found on http://en.wikipedia.org/wiki/Punch-out_(boxing_slang)