Circle cutter. Circle cutter with lead allows you to cut clean, precise circles from paper, cardboard, thin plastic, foam sheets and other craft materials. It works like a compass: one side holds a lead/graphite point for positioning, while the other side holds a sharp cutting blade. The set includes 1 mounted blade + 2 spare blades, making it ideal for repeated use in hobby work, model making, scrapbooking and school projects.