Speed Punks is a fast go-cart game in a cartoony setting featuring six different characters and twelve different tracks. The game can be played in four different single-player modes or in multi-player mode with up to four people.
The tracks are bright and colorful and feature sunny sea shores, futuristic cities, bright green meadows and lots of waterfalls. Throughout the tracks there are weapon power-ups, boost tokens and speed-up strips. The boost tokens fill up an energy bar which can be used for extra speed. The weapon power-ups can be used to defeat the rivals on the track, including homing missiles, remote bombs and stealth mode.
Some tracks have shortcuts which allow players to cut ahead, but they are hard with tight corners or narrow passages. On some tracks in tournament mode, an alternate faster route in the track will open up only on the last lap.
Playable characters include the jack-of-all-stats Monty, Tabatha, Buster and Wedgie, purple haired Monica, Brains, and the spikey haired Tempest. Three additional characters can be unlocked by first winning all races in tournament mode and then winning the character challenge. For each mode, Easy, Medium and Hard, there is one unlockable character: Cosworth the dog, Tetsuo a futuristic looking guy, and Beemer the robot.