Puncheon has played just 15 minutes of football for Rangers since joining on loan from Championship side Southampton in the summer, having failed to displace Shaun Wright-Phillips in midfield.
The 25-year-old, who has been hindered by injury during his time at Loftus Road, is widely expected to leave West London when next month's transfer window opens.
Warnock admits Puncheon has struggled to make an impact and will discuss the winger's options with him next week.
The QPR boss told London24: "I'm speaking to Jason, he's got a bit of a knock at the minute, I'm going to talk to him over the Christmas period.
"He's been a bit unlucky because we signed Shaun Wright-Phillips then and Jason was injured.
"All of a sudden there are two more before him and Tommy Smith as well, so it's been difficult for him and I feel sorry for him."