ping simply measures the responsiveness of your computer to the server. The main element that affects ping is your internet connection. A slow internet connection results in high ping. If you connect to servers that are far away from where you live, your internet connection to that server will be slow and you will experience high ping. Ping is indicated in a numerical value, and in most games, a ping below 100 is acceptable.
Punk buster is an anti-cheat programme that you must be running when you play some games if you want to connect to servers. A simple google search will tell you more.
