This study investigates the penetration behavior of a cylindrical shrapnel fragment (10 mm in diameter and 10 mm in length) into a non-biological soft tissue simulant—ballistic plasticine. A combination of finite element simulations and ballistic experiments was employed to analyze the penetration dynamics under varying initial velocities, ranging from 50 m/s to 1000 m/s. The experimental phase involved controlled ballistic testing, with shrapnel fragments launched at calibrated speeds to replicate realistic impact scenarios. The computational modeling utilized advanced constitutive formulations for the plasticine, including the Cowper–Symonds viscoplastic model and linear shock wave approximations, which were calibrated and refined based on experimental outcomes. Comparative analysis of the experimental and numerical results enabled the identification and adjustment of material parameters, resulting in strong agreement between simulated and observed penetration depths and wound profiles. Additionally, the influence of the initial shrapnel velocity on wound channel morphology was quantified, with specific focus on penetration depth and wound diameter. Importantly, the study highlights the distribution of pressure waves throughout the surrounding medium, which contributes to widespread material damage beyond the immediate impact zone. These findings are particularly relevant for medical and forensic applications, as they provide insight into trauma mechanisms associated with high-velocity penetrating injuries and support the development of improved protective and treatment strategies.