I've used one of these spinner head leather punches for many years, to make holes that a standard hole puncher was too large to use for.
You might have to eyeball the tip to the anvil, as the pawl might not be dead nut on having the tip square with the anvil.
when you have the cutter tube on the bullseye, apply steady ,moderate, pressure on the handles and give the gasket or tool a gentle, bit of twist/rotation under the cutting tube to help it slice through the gasket.
I also use these regular paper punches to knock out larger holes or to nibble out a large area.
The paper punches tend to go dull, quicker than the leather punches, so I just figure on always grabbing a couple pairs anytime you find them in the back-to-school sale bins.
NAPA and other auto parts shops usually have various gasket stock.
Get yourself some razor/hobby knives and have a ball getting the hang of drawing out and cutting gasket from sheet stock.
It's not terribly difficult to cut simpler gaskets, as long as you make certain not to skip any holes or slots, etc.
And plus, it's pretty gratifying when you get comfortable with things and can knock out some simple gaskets (just from that roll of stock and some basic tools) on a Saturday afternoon!!
Edit: Not sure why the site keeps altering the Amazon links now.
Maybe I've been away too long?