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1) Humiliated completely, as in disrespected. See clowned.
2) Bluffed out of a pot in poker.
3) A big upset in a fight.
Punked in verbial form: "To make a punk out of someone."
1) Police officer #1: Damn that kid just ran off with my badge and the blow!
Police officer #2: WTF! you idiot! you're supposed to pull your gun out with your badge!
Police officer #3: You just got punked fool.
2) Damn, that guy had 2 7 offsuit, you got punked man.
3) Yao Ming took down Shaq? Yea he got punked.
punked by xniNja January 5, 2006
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(Verb)To incite or challenge another through verbal or physical behavior in order to humiliate or intimidate.
John just punked that guy over in cellblock c when he urinated on his bunk.
punked by cecille demille February 6, 2008
A way to describe someone ripping you off,tricking you, teasing you
I heard that boy gon' get jumped for punkin that guy out.

HAHAHAHA, I punked both of you.
punked by K April 4, 2004
When you make fun of someone so bad they have nothing else to say back.
Zack W: What you doin?
Matt F: Your mom.
Zack W: ...
Punked by Matt Fisser May 3, 2003
While detained in a prison or jail, to be raped by a fellow inmate.
In the middle of the night, three inmates punked the new guy next to his bed.
punked by Tom Baird June 11, 2003
To back down from a confrontation in a pansy/pussy fashion. 80s style
They were gonna fight at the park but Billy punked out and went home.
punked by Anonymous September 16, 2003
What Ashton Kutcher says that makes all the hilarious pranks he pulls on celebrities suddenly okay.
Police Officer: Ma'am you will have to work the rest of your life to pay off these fines.
Famous Celeb: MY CAREER IS RUINED!
Aston Kutcher: Haha you've just been punked!
Famous Celeb: Oh.. haha thats a good one.
Punked by Rikkkkkkkki April 11, 2009