Seriously, my problem is that this particular form of composition violates the conventions of English compounding. Like most Germanic languages, it's strongly head-final both in noun phrases and nominal compounds. I suspect the vast majority of native speakers would expect "pull-plug" to be a kind of plug, not something which removes them. (Cf.: a drain plug plugs drains, it doesn't drain plugs.)

However, English does have a small class of noun-verb compounds (e.g. buzz-stomp/buzz-kill), so reversing the order (i.e. plug-pull) might work. In fact, we do have "corkpull" for a type of cork-removing device which doesn't involve a screw.