An all purpouse, non-descript substance.
Sometimes used as a methamphetamine-like stimulant, other times used to construct rafts and other load bearing structures.
First documented usage of the word on Church of the Subgenious affilated Radio program "Puzzeling Evidence" Hosted by Dug "Puz" Wellman, and his partner Dr. Holland Owell (Dr. Howell).
"...and so the man from Guam built his raft entireley out of Spaunch."
"Hey man you got any of that Spaunch?"
What happens when you throw a punk rocker into a river.
That dude with the spiked pink hair and safety pins in his brow looks spaunch.