I cut these regularely for my wife who own a baking shop, I use 1/16" two-colored plastic sheet, food safe, (ABS if I remember correctly) and 30deg V-bits.
I get my materials from a local sign-shop.
I run the carve twice, once to cut through (Two passes at 50% depth increments), then a second full-depth pass to clear the plastic fussies. 55IPM at 10k RPM.
Masking tape and CA to hold the sheet down.
