I replaced the scales on one of my Gerber folders with G-10. I used a coping saw with fine-tooth blades (20tpi, I think) to cut it, and sandpaper to shape it. Started at 80 and finished at 220 grit. 220 gives a smooth matte finish with a good secure grip.
You could buy everything I used - saw frame, blades, and sandpaper - for about $15 at Lowe's or Home Depot.
Since nobody else has mentioned it, be VERY sure to use a good respirator. Even with hand tools, G-10 raises a lot of dust, and it's way hard on your lungs.