Making jokes at the expense of someone who is of a higher level of power in terms of status or privilege.
Racist jokes, rape jokes, gay jokes, are all punching down, because they are all at the expense of the groups with less power. If you flip them around, and make the dominant group the target instead, it is funny to punch up.
A script that is rewritten with jokes, one liners, and cultural references to make it more appealing to a different audience then the original script was intended for.
The new animeseries brought to America has a punch up script made for children.
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).