cigar box gun cases

I'm not artsy/crafty..so I need some suggestions on what to search for.I have a bunch of unique wooden cigar boxes.Also starting to build up a small collection of derringers and older fixed knives.
I'd like to make some "presentation?" type boxes.
Local walmart has red and green felt I can buy,also some type of red satin type material.
I stuck on what to search for to use for the"holder"..some type of foam rubber or styrofoam,what ever.
Something I can trace the outline and make a clean cut to hold the gun/knife,then cover with the cloth.

Hope I'm asking clear enough,I know what I'm thinking,but can't always type it clear.Basically just trying to get some ideas about how to find out a general way to go about this.
Thanks for any suggestions/options/opinions.

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cigar box gun cases