A punch arrangement for punching holes in a moving web of a plastic film has a pivoted yoke mounted on a fixed bracket above the plastic film. An air cylinder or other actuator is mounted on the yoke and has a cutting head mounted on the rod of the cylinder. The cutting head is in registered alignment with an aperture on a support plate below the film. The film engages and swings the cutting head out in the film transport direction until the head rises out of contact with the film. Then a spring urges the yoke, actuator and cutting head back to their home position. A punch cycle can be carried out repeatedly on the film while the film is in constant motion.