To answer your original question: 1/4" acrylic is great for laser cutting, depending on your laser(wattage, cutting table, etc.) It seems a little thin for awards or trophies though.
On the other part of your question...I agree with watsons signs.
Custom awards/trophies and cheap and easy don't belong in the same sentence.
Why do so many sign and graphics "professionals" focus on cheap and easy. A real professional sells quality, service and detail. Get out of the Walmart philosophy!!