I've always heard "pleased as punch", which I think may be a reference to Punch-and-Judy shows, which are puppet shows popular in Europe. Or England. Or they were when the English children's books I was raised on were written.
Yes, but was Punch REALLY pleased? Was Punch the one punching Judy? If that were the case, then we've got a whole domestic violence issue here...man, this could get complex.
Rum Punch? Yo-Ho! A Pirate's life for me!
(but in my heart, I'm really a Pirate who don't do anything...)