I, uh, have quite a few paper punches:
I saw something months ago where someone used the punches on polymer clay--unbaked polymer clay. I finally tried it--and it works great! I roll the clay through a rather thin setting on my pasta machine (number 4--number 1 is thickest, number 7 is thinnest). Here's a couple of punches I used:
Just slide the clay in the slot and punch it out:
Sometimes you have to punch it a couple of times and give it a little shake to release the punch. Here's the wee little flower:
If you look at the second punch, you'll notice it has a lot of narrow little petals. If you just try to punch out a polymer clay piece, it's not going to work (trust me--I've learned through frustrating experience). It won't pop out and you'll have to dig the stupid thing out in pieces with a needle. Oy! So I finally figured out a way around that little problem...parchment paper! Put a piece of parchment paper on top of the polymer sheet and put it in the punch, like so:
Make sure the parchment paper is on top--otherwise you'll still have the sticking problem. It's really nice, the piece just pops right out. Once you've punched it out, just peel off the paper and it works!
I also used a couple of small cutters to make flower centers and leaves and came up with these beads:
I really like this type of bead. I expect I'll make a few more before the month is out....