something cut out from something else, as a pattern or figure cut out or intended to be cut out of paper, cardboard, or other material.
a valve in the exhaust pipe of an internal-combustion engine, which when open permits the engine to exhaust directly into the air ahead of the muffler.
an act or instance of cutting out.
Slang. a trusted intermediary between two espionage agents or agencies.
Electricity. a device for the manual or automatic interruption of electric current.

1790–1800; noun use of verb phrase cut out Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To cutout

1. a switch that interrupts an electric circuit in the event of an overload 
2. a photograph from which the background has been cut away 
3. a part that is cut out or is intended to be cut out 
WordNet® 3.0, © 2006 by Princeton University.
Cite This Source
Example sentences
He keeps a life-size cutout of the film and comic-book character in his office
  for inspiration.
Samantha's face and paws protrude from the cutout door.
Center the cutout circle over each pot and trace its outline.
The drawers below the cooktop have cutout handles instead of pulls to let air
  cool the hot surface.
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