Abstract: A small percussion cap making tool consisting of a Cutter and a Cutting Block. The Cutter is multi-toothed with an internal forming cone, a shoulder to release the finished caps and a cap exit passage. The Cutting Block has a guide for the Cutter, a material feeding slot and a centered mandrel that works in conjunction with the Cutter's forming cone to form the percussion caps. The percussion cap material is placed in the feeding slot and the Cutter is driven downward. On the downward stroke the material is wrinkled, cut, folded and formed into a percussion cap. Extraction of the Cutter from the Cutting Block pulls the cap free of the mandrel so it can be retrieved from the cap exit passage in the Cutter. The percussion cap may then be charged with a priming mixture and used.