1. A scolding technique used by TRUE pimps who would rather punch a bitch than slap a bitch.
2. If a hoe (that prostitutes under his/her respective pimp) tries to get feisty and/or doesn't pay his/her pimp taxes, the pimp then has the authority to pimp-punch them.
(Women can also be pimps.)
Mike: "Yo, did dat bitch run off wit yo chedda?"
Pimp ABC: "Hell naw. I straight up pimp-punched dat hoe."