The best punch recipe ever is one that comes from a recipe book from my little home town and has been used by my family for just about every celebration you could think of. The best part is you can adapt it to whatever because you can change the color by changing what jello you use.
Slush Punch
2 3-oz pkgs jello (lime, orange, lemon, strawberry - you choose)
2 c. boiling water
4 c. cold water
2 46-oz cans unsweetened pineapple juice
2 c. sugar
7-up or ginger ale
Dissolve jello in boiling water. Stir in cold water, juice and sugar. Stir until sugar dissolves. Pour into 3 half-gallon containers (I use freezer ziploc bags). Freeze until firm. Two hours before serving, set container/bag out to thaw at room temperature. Place in punch bowl, break apart with fork and add one quart 7-up or ginger ale for each half-galloon of punch base. Do not use ginger ale with lime gelatin as it changes the color. Makes 59 4-oz
This recipe seems like it makes quite a bit, but since you divide it into thirds, you can easily just take out one bag and leave the rest in the freezer if you don't need it all at one time.