I have never had the urge to print my own targets as the paper is the key. Target paper makes nice round holes while most other paper tears. I prefer to use other materials.
IPSC targets are cardboard and are quite durable so they last a long time and also leave a nice round hole. I used to make my own out of waste cardboard (available in the dumpsters at your local industrial park) using a real target as the template and an electric sheet metal cutter (hand held, costs about as much as an electric drill) to cut the out line. This has become unnecessary as IPSC targets can be had free at you local club after a match. I haven't paid for this type of target, ever, and I have been shooting for about 30 years. Brown tape can be bought to patch the holes for a reasonable price.
Paper plates make a great substitute for steel and masking tape will patch the holes for short money. The paper plate material also leaves a nice round hole, much like the card board of an IPSC target.
This brings me back to target material; cardboard is my favorite. It leaves nice round holes, is cheap (free in most cases) and can be patched with brown tape which is also inexpensive. Another advantage is that it is fairly rigid, allowing you to staple a cardboard target to a stick driven into the ground; about as simple a target stand as you can find. Paper plates can also be used in this fashion.
I am going to the range tomorrow to do some accuracy work with my AR and just realized that I am out of targets. I took time off from writing this post to make the targets. On some 12x12 pieces of cardboard. I drew and filled in some four inch and eight inch bulls, using a template and a felt tip marker. I will mount these targets on a larger piece of cardboard, just in case I'm shooting a little wider of the mark than I expect. The only drawback with this system is that you will need black tape or target pasters to cover the holes as you shoot. Brown tape is available from the folks that supply the IPSC shooters for a reasonable price. Masking tape is available at Lowe's for short money. Unfortunately, black tape suitable for patching targets is hard to come by. It is available from an outfit in Everett, but they only sell by the case, actually they want you to by about ten cases at a time.
Even if the cheap black target patching tape is unavailable, you can still save a bundle by making your own targets in the manner I have described and using black target pasters, available at your local gun store.
Shooting can get rather expensive; you have to save wherever you can. I have found that this system is about as cheap as it gets, unless you build your own steel targets, but that's another story.