Several derivations of the word punk can be found. The word occurs in Shakespeare to describe a woman of doubtful virtue. Dr Johnson, citing the Bard, defined a punk as ‘a whore, a common prostitute, a strumpet’ while in later street argot it meant yob or hoodlum. But the OED has another definition for punk—‘rotten wood, fungus growing on wood’ or ‘worthless stuff, rubbish’. Recently, I found the OED definition confirmed in a scarce recipe book of circa 1809, and online this was re-affirmed by a modern American naturalist, who called the bracket fungus piptoporus betulinus, ‘white punk’.
This fungus, which is known in the UK as ‘razorstrop fungus’, can hardly be described as 'worthless'. In fact, ‘white punk’ is very valuable if you wish to make a fire but have no cigarette lighter or matches on you, but perhaps do have a magnifying glass, two twigs to rub together or a piece of flint.
Punk is a polypore that grows mainly on silver birches and which, when dried, and cut into strips, makes handy tinder. But don’t take my word for it. Read the wise words of Anon from The Family Receipt Book ( London ca.1809).