cutout vs standee

cutout and standee both are nouns.

Word	Noun	Adjective	Verb	Adverb
cutout	Yes	No	No	No
standee	Yes	No	No	No

As nouns, standee is a hyponym of cutout; that is, standee is a word with a more specific, narrower meaning than cutout:

cutout (noun)	standee (noun)
a part that is cut out or is intended to be cut out	a lifesize cardboard cutout (usually of a celebrity)
a photograph from which the background has been cut away	someone who stands in a place where one might otherwise sit (as a spectator who uses standing room in a theater or a passenger on a crowded bus or train)
a switch that interrupts an electric circuit in the event of an overload