I cut it with scissors, but to get through a 1.5 inch piece, I make about 5 cuts along the line, 1/2 inch each time. Once it's cut, it's good for longer than we're good, but getting it shaped is really hard on the hands.
i've never cut the exact media pictured, but i have cut similar things with a smooth knife/box cutter knife. It's also easier if the knife is heated up a bit, hot glue gun tempI did try my key hole saw, but the teeth were really too coarse... maybe a hack saw???