The Punch line reference article from the English Wikipedia on 24-Apr-2004
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Punch line

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A punch line is the final part of a joke, usually the word, sentence or exchange of sentences which is supposedly "funny" and provokes laughter from the listeners.

For instance, in the following well-known joke:

A man walks into a bar with a duck under his arm.
The bartender asks: "hey, where did you find the pig?"
"It's not a pig, it's a duck", the man answers.
To which the barman replies: "I was talking to the duck".

"I was talking to the duck" is the punch line - if people laugh at the joke, it's when they hear that part.

Punch lines generally derive their humor from being unexpected.

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