I haven't seen that before but it's a really cute idea - love the layering. Hmm, you could try using an xacto knife but I would think that could cause a lot of fraying. I wonder if there would be a way to use heat to make the cut outs? Be careful if you decide to experiment with that!! .
I was thinking an exacto knife would work too but my hands shake like I'm stuck outside in a blizzard so... lol. I was also wondering if I could do it with a die cut machine.