Definitions by Corboner

panch 

Another word for Pussy. Created to be used in mixed company without detection.
Can also be pronounced "pain-ch" in which case all rhyming words should also be thusly pernounced "rain-ch"

Check out that chick's panch.
Fun to say repetitively and to rhyme.
"Pa-pa-pa-panch pa-panch panch panch"
"Panch with Ranch"

panch by Corboner June 28, 2006