On the luan, draw a circle. (I used a mixing bowl as my template that happened to be a good size, about 16" in diameter).
Then find the center of the circle. I used this technique: http://www.instructables.com/id/How-to-find-the-ce...
Next divide the circle into three equal parts like a Mercedes Benz logo. I used this technique: http://www.popularwoodworking.com/woodworking-blog...
Before you cut the pieces, mark them so you can get them back together as they originally were. Your cutting won't be perfect, but it all works fine if the pieces remain in the same relative order.
Now, use the jigsaw to cut out circle. It helps to clamp the circle on your work-surface and go slow.
Then use the hole-saw to cut out the center piece of the target.
Now, use the pull saw to cut the three other pieces of the target. Again, clamping the luan as you cut makes this much easier.
Finally use the sander to clean up the cut edges of the target.
Drill holes in the center of each target piece to a size slightly bigger than a single LED on your LED strip.