As always there are several ways to skin a cat in Blender… Knife projectcould be one of them, the Boolean modifieranother. If you need good topology (for animation / clean deformation / subdivision surfaces) there might be quite a lot of manual cleaning up involved, though…
This is the result of the knife project method, done in a few minutes:
Thanks so much! I tried the boolean operator and it works great! However, it’s not really a “smooth” cut like yours is with the knife tool? Are there any tutorials that show you how to use the knife tool like this?