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1.
Verb:

It's a blind surprise attack that desecrates the victim in a way he or she never knew was possible.

Accomplished by simultaneously lowering the head and extending the arm (fist clenched) in front. This gives the impression of a unicorn with your devastating fist as a horn.
-Dude that kid was harassing me yesterday...

-Bro give him a unicorn punch, he'll buzz off!

punch attack devastating unicorn
by bobchees3 November 19, 2011
 
2.
(noun) The opposite of the unicorn chaser. When one is overwhelmed by cuteness, one feels that only punching a unicorn in the face can re-establish balance.
Those pictures on your blog are so adorable, they're going to cause a unicorn punch epidemic!
by Espressojunky July 07, 2009