Abstract: An exercise mat and punching assembly combination includes a base having a bottom wall, a top wall and a peripheral wall such that a substantially watertight interior of the base is defined. An inlet conduit extends into the interior. A peripheral lip is attached to and extends upwardly from the peripheral wall. A central member is selectively positionable on the top wall such that the central member is supported in vertical orientation by the peripheral lip. A panel comprised of a cushioning material has a size and shape such that the panel may be extended around the central member. A fastening assembly is attached to the panel for releasably fastening it around the central member. The interior of the base may be selectively filled with a liquid.