Here are some simple
Puppet How To's
But before we begin let me say a few things about two of my favorite materials, Liquid Latex and Gesso.
Liquid Latex comes in many consistancys and colors. Most theater makeup latex is very thin and I avoid it. I like Rub-R-Mold,
it's thick and natural color. I thin it as needed using ammonia. To paint it I use Acrylic paint mixed with thinned latex, cleanup with ammonia (ventilate, ventilate, ventilate).
Gesso is traditionally a mix of plaster and binder most popularly used to coat canvass for painting. I use it to give a smooth finish for my puppet heads and to create traditional seeming hands (I also coat carved hands when I'm too lazy to finish sanding them). Commercial gesso is way too thin and even when thickened with plaster is kind of weak. After years of experimenting I've become very fond of mixing Durhams Rock Hard Water Putty (a great op art container) 
with equal parts water and white glue. If I'm going to do a lot of finger smoothing I add a drop or two of boiled lindseed oil. This stuff is light weight, sands, mills, paints beutifully and will make a Punch head that'll take many whacks without cracking.