I use clear self adhesive labels to make some of the diving lips I fit to my lures, see below for a quick description.
I buy a pack of 10 labels at office supply supermarket, you can make around 20-50 lips from each sheet depending on size & shape. You can use ordinary copy paper and spray with adhesive and stick these on instead if you prefer. I have designed simple lip shapes using MS excel software and set them out to fit the label size. It takes a little time to set up but once done you can print as many as you like.
I print out copies of lip designs and stick them to ploycarbonate or aluminium sheet.
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I cut out sections of & remove the plastic backing off the lexan and replace it with masking(paper) tape, it is a better medium to assist with cutting out individual lips. I then drill holes for towing clip and cut out each lip with a set of snips and tidy up with sanding disc, paper or file.
I have bandsaw which can make it a little easier for larger sizes using 2mm lexan etc but smaller sizes can be done easily with hand tools. If you are making small amounts or one off lips this is a bit of overkill but it suits what I do and maybe it can provide some useful info for others, cheers Sav.