I have used a copping saw, utility knife and a dremel.
I use the utility knife to rough the shape.
I use the coppling saw with a new blade with the most TPI i can get to shape it further.
I use vaious grinding tips on the dremel to fine tune the shape.
Finally, i file, sand and polish the edges.
Sounds like an all day event but i am usually done in an hour.
Be very careful when drilling holes for posts. If the drill binds and pulls the bit thru you will crack the plastic.