Yo quedaría con "punto cortado" o el término "punto tagliato" (italiano).

https://en.wikipedia.org/wiki/Cutwork
Cutwork or cut work, also known as punto tagliato in Italian, is a needlework technique in which portions of a textile, typically cotton or linen,[1] are cut away and the resulting "hole" is reinforced and filled with embroidery or needle lace.
Needlework styles that incorporate cutwork include broderie anglaise, Carrickmacross lace, whitework, early reticella, Spanish cutwork, hedebo,[2] and jaali which is prevalent in India.

https://books.google.com.jm/books?id=LTYfAQAAQBAJ&pg=PA485&l...
punto tagliato (in Italian)

https://books.google.com.jm/books?id=gbIsJ2tZJS4C&pg=PA240&l...
The Complete Costume Dictionary
http://www.mfa.org/collections/object/cutwork-lace-73394
Punto tagliato or tela tagliata


https://www.proz.com/kudoz/spanish_to_english/textiles_cloth...
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase: Punto cortado
English translation: tagliato, point coupé, cutwork (tres idiomas)

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Note added at 4 days (2018-04-05 17:38:47 GMT) Post-grading
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Gracias Rosa Elena.