Here's a foam lathe used in making a rocket body and nosecone:

http://www.info-central.org/construc...mturning.shtml

And here's the foam lathe I was talking about that uses an egg beater and a Dremel.

Noptice that it's a copying type lathe. It copies the two dimensional pattern at the bottom. The way it works is a pointer the size and shape of the dremel bit follows the pattern, and so the dremel cuts the same shape above it. Kinda like the way keys are ground at the hardware store.

http://www.abymc.com/Articles/Submitted/foamlathe.html