The Collaborative International Dictionary of English v.0.48:

Paunch \Paunch\, v. t. [imp. & p. p. Paunched (p[add]ncht or
   p[aum]ncht); p. pr. & vb. n. Paunching.]
   1. To pierce or rip the belly of; to eviscerate; to
      disembowel. --Shak.
      [1913 Webster]

   2. To stuff with food. [Obs.] --Udall.
      [1913 Webster]