Pulley/winch knot for holding up heavy punching bag
One setup which would be easy to setup and take down would be a combination of a ceiling mounted punching bag carabiner, swivel pulley, and boat cleat.

Start by bolting the carabiner to the ceiling. A solid wooden beam would be perfect for this. After that, mount the boat hitch to a solid vertical surface such as a wall or vertical beam.

Then attach the swivel pulley to the carabiner, and tie one end of a piece of rope to the punching bag. You can use an anchor bend knot to attach the rope to the metal ring. Fish the other end of the rope through the pulley and lift the bag into place with the rope.

Tie the rope off on the boat cleat by using a cleat hitch. This setup will easily allow you to take the bag down and set it up without using any tools. The cleat and knots are designed to hold a boat, so a punching bag would be no problem.

Swivel Pulley




Cleat Hitch &amp; Knot



Punching bag carabiner




Anchor Bend Knot



The cleat can be purchased at any marine supply store, or boat dealer. Just about every cleat on the market will be strong enough to support a heavy bag. 

There are two main styles of cleats. There are ones which have 2 screw holes which go through the center, and others with 4 holes. The ones with the 2 center holes will take more abuse before failing than the 4 holed varieties.