The philosophy/way of life, derived from early punk culture. To be a true punk master one must spend hours studying the works of Sex pistols, Ramones, The Clash. Practice involves irresponsible drunken behavior, swinging punches at any and every authority figure, making plans and then canceling last minute... and a mohawk. A true punkism jedi is able to start mosh pits in any public arena utilizing only his/her mind!
A scrub who can't speak proper english and forms incoherent sentences that are horrendously grammatically incorrect. When confronted about the mistake, the person who uttered the pengism will deny anything wrong occured.
Person 1: I now posses a piece of iPod touch 4g silicon case. Do you want buy it?
Person 2: What the hell is posses? And what the hell is a piece of a case? And want buy it?
Person 1: What's wrong?
Person 2: PENGISM!!!
The feeling of immense relief you get after delivering a pun when you have been holding it in to long, usually due to the puns inappropriate nature
"I had a pungasm today"
"Oh? How come?"
""We were talking about that security guard that was charged with kidnapping his ex after she escaped and as soon as the boss left i just had to say that he shouldn't have let his guard down!"