This is a clever little punch. Two of the paper-punched buttons have an embossed look, the third is flat.
The punch would have been perfect if you didn't have to work so hard to get the punched buttons to release themselves. (I have to actually shake the finished products out of the punch chamber; and the square button has to be manually pried from the paper. Rather annoying...)
Overall, I'm pleased with the punch; just wish the buttons would release easier.