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!

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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."

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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.