Ghetto Punch- (noun) Kool Aid made with grain alcohol or any neutral grain spirit (like vodka).
A: Hey man, you going over to Carl's party?
B: Nah, man. All he ever has is Ghetto Punch, and that shit always fucks me up.
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When you get a paper or booklet from an instructor, and they haven't bothered to use a hole punch. You have to use the rings of your binder to punch the holes, usually resulting in uneven and off-center holes.
"Man, I wish Mr. Smith would learn to use a damn hole punch, my binder's all messy from all the ghetto punches.
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Howdy dude, comin' down from that boulder with a jug of Ghetto Punch