In olden days smokers would bite off the tip of a cigar to create an opening. This crude method worked, but often would also damage the end of the cigar, causing it to open and let tobacco into the smoker's mouth, part way through the cigar. Others may also use a razor blade or knife, but still run the same risk. Fortunately, many options are available to consumers, with each type of cut providing a different appearance and smoking dynamics.
Straight Cut is the most basic type of cut. It can be made using a single blade guillotine cutter, but a double blade cutter is highly recommended since it makes a significantly cleaner cut. For a more precise cut, one can also use cigar cigars, scissors specially designed for cutting cigars. However this requires additional skill to make a clean cut. When making a straight cut, it is important that you cut enough of the cap so that the cigar draws smoothly, but not to much of the cap such that the end of the cigar opens and allows tobacco through.
V-cut or Wedge Cut slices a wedge into the cap of the cigar into taking it entirely off in a straight cut. This provides a more consistent cut without the risk of taking cutting too deep or cutting on a diagonal. Some prefer the V-cut stating that it provides for a smoother smoke, while others either prefer a straight cut or are indifferent.
Hole Punch does not cut off the cap of the cigar, but rather embeds a hole into it. If the hole is too small, the cigar may not draw properly and while smoking tar form the cigar can sometime accumulate around the hole. These factors can affect the flavor of the cigar in a way that some smokers prefer and others may not.