Like Fuzzy, I'll offer an alternative solution you did not ask for...
I made Pinewood Derby medals each year. 1st, 2nd, 3rd place medals for each den plus the "Open" class (adults, siblings, etc.) Here's how:
I cut up the trunk of my Christmas tree when I took it down. Sliced it into ~1/2" thick medallions, sanded them, and urethaned them. Put in a little screw-eye and laced a piece of leather through it. I used a sharpie to write
1st PWD Tigers 2004
(front side) (back sid