Had to gift wrap a commission of multiple plaques. Since each one is personalized I needed a way to tag each one with the person’s name.
Created a tag shape with half circle interior corners to allow a printed tag to be inserted. Last cut the tag body from some card stock I had on hand and then printed the text on regular printer paper that I then manual cut out.
Turned out pretty nice. Some nicer and heavier weight printing paper might look just a bit better, but that’s for another time. 
Great idea and implementation! Looking at the finished tag, a thought went through my head: could you put down the white paper and laser cut the the text(outline font) so that the color of the tag becomes the color of the text. Just thinking it might all be doable with the same jig, on the same machine and in the same software.
I’ve made wooden engraved tags which we reuse but I will try this method this year too.
The only thing with cutting text outline is with the internal parts of some letters like; A & D, unless you use something like a stencil font.
good point and they therefore would become a bit more fragile.
I used to use a way to keep the inner piece of the letter by corel draw by welding them to the side of the letter
