Upon scouring the internet to prove the validity of what I believed was only a family game, I was able to locate the origins of the game. The term PinchPunch is actually a variation of the British superstition in which a person should say “rabbit, rabbit, white rabbit” or a combination of those words on the first of the month. By saying this on the first day of the month, the one saying the phrase will receive good luck for the duration of the month. The superstition is simply folklore and has traveled the nations and in such, has taken on many variations. PinchPunch, is simply a variation of the “rabbit” superstition. The whole saying “A pinch and a Punch for the first day of the month” has been shortened simply for convenience. All of the above information is by no means a representative history, but was the best I could find on Wikipedia. Works for me!
