a time out for m son is sitting at the kitchen chair while the microwave timer runs for 7 minutes because he is 7 yrs old. I rarely need them but he gets a time out of he gets angry and hits his older brothers, if he back talks me. When the timer beeps I get down to his level and tell him again why he was in time out and ask him "what can you do different next time so you won't have a time out?" He usually says "I would come tell you instead of hit my brother". Then I ask him to apologize for his actions and he is fre to go.
This works very well for him because he doesn't like to sit for 7 minutes and he rally does want to do the right things. I see others mentioning stealing and so on. Gosh if my son ever stole something, think I'd be looking beyond a time out.
also I don't believe in making them stand in a corner or face the wall. I think that is humiliating and just not necessary. I really feel that can lower self esteem by demeaning them that way. Simply having to sit in a chair in an open area for a length of time is sufficiant.
EDIT: to answer you question in your added details...for us time out is both. It's a consequence (I like the word consequence better than punishment), for an unwanted behavior but it's also discipline because at the end of the time out, we discuss better ways to act and handle the situation so there is learning involved. Kids need to learn there are consequences for each action. if they do a good thing, the consequence of that is praise and happy things, if they do a bad thing the consequence for that is a negitive action such as time out or loss of privilage. Sometimes consequences are natural, go outside without a coat and you will be cold. Sometimes they need to be enforced by a parent. Consequences alone don't teach the child the better way to act that is where the discipline comes in.
To those who dn't know the difference, punishment simply punishes a bad unwanted behavior that has already happened. Dsicipline teaches children about the behavior you expect now and in the future so that the bad behavior does not repeat. So many parents don't realize there is a difference and then they can't figure out why punishing their child over and over isn't working. It's because there has to be discipline with a lesson attached to let them know the behavior you want. You can't just keep telling kids don't do this, don't do that. You have to let them know what you WANT them to do instead, and THAT is discipline. There is a difference.
and a big thumb down to the person who pinches their child...how about some parenting classes. Be an adult for crying out loud, pinching is something a 2 yr old with low verbal skills does to handle a situation.