A punk is a male who has practical jokes played on them or is picked on, usually on a regular basis, by others (punk'd). Another use of the word refers to what older adults might call a male rebel teen or street low-life. A thug is sometimes called a punk.
Joe is considered a punk at school because other kids constantly give him wedgies.
That punk rode his bike over my grass.
That punk tried to carjack my ride.