I always wanted to wear a bow tie, and for some time, a made my own bow ties.
This punch helps to cut from fabric, but you must remember to leave some reserve for stitch, approximately 1 cm is enough.
Whole set is made for collar size 42.
"How to" you will find here:
web site is in Polish, but there are a lot of photos, so even if you don't have such "superpower" like speaking Polish, you will managed :)