The punch card is one of three items needed to shut down the Milky Weapon of Destruction in SPY Fox in "Dry Cereal". The punch card goes in different patterns.
For SPY Fox to get a punch card, he must go to William the Kid's secret fortress to find the paper and figure out which picture holds the punch cards. After that, he must find a secret passage way that leads him from the locker room to the mayor's office. Depending on which picture the paper tells him, he uses the Cheez-n-Safe Cracker Kit gadget to unlock the safe. Then he takes a punch card depending on the pattern.