STUDY  -- Answer: POWERPUFF GIRLS -- By Brooke Nelson

Going in clockwise order from outside to inside, punch out holes from spokes 0, 3, 5, 10, 12, 13, 18, 19.  This will give you the following list of words if you rotate the decoder clockwise:

MAXIMIZE
ABDICATE
WIDENESS
EYESIGHT
DEVILISH
WRINKLED
TRIANGLE
EDGEBONE
VERMOUTH
CROSSBOW
CREDENZA
CLUBFOOT
ASTEROID
UNKISSED
FLYWHEEL
BARBECUE
PREACHER
DIABETES
PARADIGM
WOODSHED
GRANULAR
SNOWSHOE
REDOUBLE
LOGISTIC

These words are only important in helping you figure out the construction of the decoder wheel. 

If you flip the decoder wheel over (so that spokes 0, 21, 19, 14, 12, 11, 6, 5 are punched), some interesting messages appear, along with some garbage.  Starting with the M and A at the 12:00 of the first wheel, you get "MAYIMBIALIKSHOW", which is Blossom.  Starting with the V and E at 4:00, you get "VIDEOGAMEBOBBLES", for which the answer is Bubble (Bubble Bobble).  Starting with the P and B at 8:00, you get "PRINCESSBRIDESHE", for which the answer is Buttercup.  Put these three together and you've got the Powerpuff Girls.