well i assumed that in the age of CDs that people in garage bands wanting to make their own albums would be looking for something like that, and thus the demand would facilitate the need for it.
i am guessing no sort of paper/program exsits. arent there printable CD labels though?
We are simply teasing you
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Usually, folks simply use a template to print an insert / booklet. The template insures that the proper dimensions / layout is used. Then you can use a paper cutter and fold the edges, where appropriate.
Print a few sheets, you might have some trial-and-error before you get the PERFECT fit (I tend to be a perfectionist).
Who knows, there might actually be some products that match your description (i.e. perforated) -- but they are bound to be expensive and simply not worth the money!