Hmmm. "peach punch". That's great, Mo! Thanks for suggesting that possiblility.

"Peach punch" might be a winner.

Now that you mention it "peach punch" seems to be a more likely source for that line in the Brickwall Water Fall or Bang Bang Choo Train or other such rhymes than "pinch punch".

I hadn't thought about the word "peach" at all and was so focused on "punch" meaning 'hitting' that I hadn't thought about "punch" meaning a drink.

Btw, Captain Crunch is indeed a food-if you consider pre-sweetened
breakfast cereals as food. Here's an excerpt from a website about that cereal:

"Quaker Cap'n Crunch ® was introduced in 1963 and has become one of the most successful pre-sweet ready-to-eat cereals ever launched. Today, Cap'n Crunch is the #1 pre-sweetened kids cereal in the U.S."

http://www.quakeroats.com/qfb_OurBrands/BrandDetail.cfm?BrandID=1