It is "cutout" as a noun and adjective according to Cambridge and Oxford dictionaries but I think the hyphenated word is also common and acceptable.
Is cut out one word or two?
Webster's lists cut off as two words when it is used as a verb. In the second example, cutoff is an adjective being used to describe date, and in the third, cutoff is being used as a noun. Webster's lists cutoff as the correct spelling when it is used as a noun or adjective.
How do you spell cut outs?
Definition of cutout
- 1 : something cut out or off from something else also : the space or hole left after cutting.
- 2 : one that cuts out.
- 3 : an intermediary in a clandestine operation.
- 4 : a record album no longer in production that is sold at a discount.