Now, for the 3.5" floppies, it was a little more difficult, because a hole-puncher left a much larger hole than was required. For this task, I found that a swiss-army knife with a leather-punch tool to be effective [albeit a little slow].
For me an old thrown out soldering iron did the trick.
As long as you pulled it out as soon as the hole was made ofcourse. After a few beers you tend to get the disk melted to the casing a few times.
Regards, Ed.