Now that you have the shapes marked out, it's time to cut them out. The best way to do this is with good quality scissors you'd normally use to cut fabric, because felted knitting can be rather thick.
Decide before you begin exactly how you want to cut out the pieces: on the line, inside or outside of the line, beyond the line. Try to be consistent when cutting out both pieces so they look basically the same, though it's not absolutely critical they be perfectly the same size.

