Here's a template that Crafty Maria made and she shows the different pieces used to create the different flowers...
The component of the punch is on the left, and these are lines drawn where she cut in order to get the petal shape desired. To the right is a sample flower.
Here's a close up so you can see the cutting lines better
Here's her video on You Tube from Crafty Maria's Stamping World.
Now punch away!