I remember that. We called it hunch punch, used Purplesaurus Rex Koolaid, Everclear, spiked fruit, and ice. We made two garbage-can-fulls at our biggest frat party. One pledge told a Mormon chick the can on the left was the non-alcoholic one.
I won't ever forget her slurring to us that "thisss isss the besssch punch everrrr!"
And yes, we're all going to hell. But at least we'll have hunch punch.
Shoot, we just called it trash can punch.
We called it "dump" punch. Whichever floor or group was having the party would make the base; and people just came along and "dumped" various and sundry bottles of alcohol into it.
Personally, I never drank it...it was usually simply wicked-tasting. I do remember, however, that it turned out a really odd dark purplish-blue one time.
We had a party full of people with blue-tinged lips, they looked as though they were suffering from oxygen deprivation.