It depended on the seriousness of the infraction. For the most serious offenses the sequence was: mom's spanking, followed by dad using a belt when he got home, then followed by the post-discipline discipline.
My dad's version of giving me a "timeout" was to have me stand with my arms straight out to the sides, palms up, for however long I was told. If my arms dropped too low I got an additional touch of the belt. As I got older and stronger, I had to hold books in my hands. I don't know a name for it, but as a kid I called it getting crucified. Not fun, but in time it gave me pretty strong shoulders. After that I was usually grounded for anywhere from a week to a month.
While the ***** care activists out there would undoubtedly claim that it was abusive, barbaric, criminal, etc., back then it was just called being strict.