buddy punch

When a person at work clocks in ("punches in") their friend when their friend is late to work.

Did you you clock in for Stevie?

Oh yes.

Good old buddy punch!

buddy punch

Noun.
To punch a friend on the arm or shoulder during a greeting.

John: "Hey man, long time no see!"
*punch*
Henry: "Dude, that fricken hurt."
John: "Relax, it's just a buddy punch. Wuss."

punch buddy

Someone who you punch for fun to feel better/good in any situation

We went in to the haunted house, I brought my punch buddy with me so I will feel better.