A person who rufuses sex when asked.
"Come here and sex me"
In prison a punk pussy is what inmates call other inmates who will let you butt fuck them for something.
That dude is a real punk pussy, he let three motherfuckers fuck him in the ass just so he could get some free commissary.
A person who acts in a cowardly manner, while still trying to be tough.
"He thinks he is really cool, but he is just a punk-pussy."
The combination of a punk
and a pussy
. Someone who is scared or a sissy
"Let's sneak out man."
"Nahh, I don't wanna get in trouble."
"Dude, don't be a punk pussy."