I was sitting out back around 6:30 pm, no clouds in the sky except one fair weather cloud heading towards me and almost overhead. The cloud was at an altitude where piper cub planes normally fly. The cloud was approx. 1000' long, 300' wide and 300' tall. The bottom half of the cloud was white and the top half was dark. As I'm looking at the cloud a circle formed. As I focused on the circle I noticed there was flat rotation of the clouds that made up the circle. I cannot remember which direction it was rotating. It was rotating at about 5 rpm. The circle was approx. 75'-100' in diameter. After about 5 seconds the rotation started to lower and with it came more clouds forming a short, straight walled funnel that came down about 100' and then stopped lowering. With-in a few seconds the rotation started going back up the inside of the funnel leaving the walls of the funnel intact. The walls were approx. 20' thick. As it got about 20' into the funnel the appearance of the rotating clouds turned into a very bright white smooth and perfectly round, 100" diameter object with a slight convex bottom. The object moved another 50' upward then in a blink of the eye it shot upwards through the remainder of the cloud. There was about a 400' spray of clouds that shot out of the top of the cloud from the punch hole. When I looked up the hole as it passed overhead I could see the walls were as smooth a drill hole in a piece of wood. I could see the white and dark cloud layer inside the hole. It was a clear dry evening with calm winds and only that one fair weather cloud. There was no other unusual movement with-in the cloud. Pretty Cool!