For punch needle rug hooking projects, I recommend a gripper strip rug frame because it keeps monk's cloth or linen drum-tight throughout your project.
For multi-craft use, a Morgan lap-frame hoop works well for the Oxford Punch Needle (which is for punch needle rug hooking) as well as the thin punch needles (like the Ultra-Punch) that are a part of a similar hobby called punch needle embroidery.
I sell Morgan hoops because they grip fabric securely, and the lap-frame design helps protect your hands while punching.