Abstract: A punching bag with multiple strike targets features a punching bag body, a plurality of cutouts, and a plurality of strike targets, the punching bag body extending between an upper end and a lower end. The plurality of cutouts traverse into the punching bag body and provide spaces within which the plurality of strike targets are connected. An upper strike target is positioned within an upper cutout, representing an opponent's head, and a lower strike target is positioned within a lower cutout, representing an opponent's midsection. The punching bag body may be hung from an elevated mounting point by a plurality of straps connected to the upper end of the punching bag body, or the punching bag body may be supported above a floor or other surface by a base connected to the lower end of the punching bag body.