Is the word puppet a compound word?

No. It is not a compound Word. Puppet can be used with other Words to form compound nouns like "puppet show" or "puppet regime" but puppet itself is NOT a compound Word. A compound Word must be two Words put together that form a new Word/definition, but those Words are somewhat related to the new definition, like "playground". "Pup" and "pet" have nothing to do with the definition of "puppet". Similar non-compound Words would be "carpet" or "office". Just because you can find two Words within a Word, does NOT make it a compound Word.