You could go for role play, too. All the typical school master - pupil type stuff; have her act as a school girl who has transgressed and has to go to the headmaster to confess and receive appropriate punishment (with the added fun that she has to think up what her transgression is going to be). Or give her some maths or a dictation to do or something and punish her for mistakes. You can find loads of ways to create the need for (play) punishment.

Actual punishment for actual misbehaviour is a totally different matter. And has been mentioned, does not have to include physical pain at all.