Punch up : (informal) a fistfight a fight, brawl, or violent argument example : the quarrel ended in a punch-up http://www.thefreedictionary.com/punch-up http://www.audioenglish.net/dictionary/punch-up.htm

in the usa, punch it up means 'pull the data / get the data / have the data be displayed

"punch it up"= to make funnier, for example you can make your talk funnier if you start with a joke. "punch it up" when referring to an outfit means to add accessories to make your outfit more cool/fashionable.