Japanese Screw Punch
This lovely tool can punch through multiple layers of paper, mat board, etc. It is great for making eyelet holes in fabric as well as leather. Used by book makers and mixed media artists. It is amazing in its ease and is very durable! Earns Extra Foofy Points to be able to say you have a “Japanese Screw Punch.”
— Jane Wynn
The advantage of this tool (sometimes called a Paper Drill) is that unlike your usual plier-like paper punch, this one is not constrained by where you want a hole. You can drill a hole anywhere on any size sheet — not just the edges — by bearing down on the handle. To compensate for the lack of leverage you do get in a plier-like punch, the shaft of this screw punch rotates as you press, neatly slicing a trim hole. It will go through 15 pages of paper at once; thicker materials will require multiple passes. It comes with five bits, but the largest one will be smaller than the typical paper punch hole, so I’ve found more careful alignment is required.