A few of the pocket-size Wenger Swiss Army knives include a Cigar Cutter. This is a formidable scissors-like tool designed to slice the end off a quality cigar. It is so unlike all other pocket blades and tools that many people get one just for the coolness factor.
The Wenger Cigar Cutter is springless: instead, there is a lever that returns the Cigar Cutter to the open position, as long as the Cigar Cutter is fully opened. Just insert the cigar ends into the guillotine-like zone, and slice. Presumably it would also work well for slicing hot dogs, pepperoni, and other soft materials of similar diameter.
The Wenger Cigar Cutter doesn't need any specific maintenance, although you might want to put a drop of mineral oil at the pivot point about once a year.