Is the ability to create custom shapes present in PSE6 -- that can be used with cookie cutter too?
The first answer seems to be: no...
However you can combine different custom shapes within Elements. You could save them in psd format.
In Richard Lynch's book 'The hidden power of Adobe Photoshop Elements", you have a chapter on how to create custom shapes with his tools. This is possible, but I would be unable to do it without the help of the book...
Probably not for everyday use, but designing a logo is possible.
I forgot... Welcome on this forum!