I like this foam cutter

Actually I like the use of the spring on it to tension the line.    Guy went a bit nuts with sanding with a dremel.  I like how he uses a glue gun to “spot hold” the wood til it gets screwed in.

http://www.instructables.com/id/DIY-Hot-Wire-Cutter-for-Plexiglass-Cardboard-and-F/

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