It looks hand cut. I would only consider a cutter if you are going to use it more than once.
Other option would be to have it printed 3D with PLA. I would consider this if you really want to have an exact copy of this silouette – bigger or smaller. Down-side: plastic is more cumbersome to handle, cuts not as sharp as metal (obviously) and has a shortler lifetime as metal.
Natascha, Zurich, Switzerland - http://www.facebook.com/fleurdesucre - http://pinterest.com/fleurdesucrech/ - http://www.fleurdesucre.ch