An urban public traffic network is a typical high-order complex network. There are multiple types of transportation in an urban public traffic network, and each type has different impacts on urban transportation. Robustness analyses of urban public traffic networks contribute to the safe maintenance and operation of urban traffic systems. In this paper, a new cascading failure model for urban public traffic networks is constructed based on a multi-subnet composite complex network model. In order to better simulate the actual traffic flow in the composite network, the concept of traffic function is proposed in the model. Considering the different effects of various relationships on nodes in the composite network, the traditional cascading failure model has been improved and a deliberate attack strategy and a random attack strategy have been adopted to study the robustness of the composite network. In the experiment, the urban bus–subway composite network in Qingdao, China, was used as an example for simulation. The experimental results showed that under two attack strategies, the network robustness did not increase with the increase in capacity, and the proportion of multiple relationships had a significant impact on the network robustness.