A punch tip design configured to be universal in its application with wide varieties of punch assemblies, and various punch body designs from which universal application of the punch tip is exemplified. In some cases, ancillary components used with the various punch body designs enhance ease by which the operator can selectively manipulate the same for alternately securing or releasing the punch tip. The ancillary components comprising a cam, a carrier body, and a plurality of wedge members, the cam coupling the punch body and the carrier body, the cam adjustable with respect to the punch body and the carrier body, adjustment of the cam resulting in corresponding movement of the carrier body.