The combo in itself is simple: you sacrifice a monster to attack, and get a bonus when you destroy one of your opponent's monsters.  It can be quite vicious, and could certainly be grounds for a themed deck based on mutual destruction!

 

Another combo similar to this one would be to use Cannon Soldier with Road Accompanying.  Sacrifice a monster to destroy target monster and deal 500 points of direct damage.  You can even replace the Road Accompanying with Cross Soul, which will remove the need to even sacrifice one of your monsters at the cost of your battle phase.  Of course, you could combine the two as well.  For obvious reasons, you can't use Cross Soul with Panther Warrior.

 

Normally the Panther Warrior is an unusable card.  The feature that is supposed to make it special is that it is a Level 4 with 2000 attack, but because you have to sacrifice a monster to attack with him, he's like a Level 5 that you have to tribute for every single turn.  However, by utilizing strategies like these, you can twist bad cards into great combos!  Remember to not be too skeptical when reading your cards.  A big disadvantage can often mean a big opportunity for a combo!