Check out this video of ZPE Inc's Jimani Langolier Laser Marking system that includes an SPI 70 Watt EP-Z laser source to mark Polyonics Laser Markable Label material. The material is a 1 mil black polymid with LSE acrylic PSA Glassine liner.
The laser is both removing material to create the contrast mark and cutting the perimeter so the decal is cut to size.