Hey Kenton! Welcome to the community! I think what you are looking for is Oramask 813! It is a stencil paper that you just need to remove the backing off of and apply to your project before carving. I find it easiest to start to apply it to your project then use a credit card to smooth it as you go! As long as you apply it nice and smooth, it should come right up after you are done painting the carved letters.
Here is a previous forum post that shows a better explanation. Hope this is what you are looking for!