Ok, just got back. 4'x8'x2" Pink foamboard $25ish. Check under INSULATION in the yellow pages (owenings pink or Dow blue) HPI Henry was the place but only had Dow in 1".
Home Depot. Initially, I couldn't figure out why some home depos had foam in different places. The white stuff is in the insulation isle. Available in 4'x8'x2" for $14. It's Stanley's Insulfoam R-Tech and has a white plastic coating on one side, and reflective on the other which would have to be removed. Also in the insulation isle is that other stuff, possibly with the fibers in it. Johnson Manville AP Foil Faced 4'x8'x1" for $13. I don't know if that stuff is safe with hotwire.
Now in the stucco/drywall isle is where I normally see the pink or blue stuff. One homedepo carries the pink, the one I stopped at only has the blue. Both are only 1" thick and probably 2x8'. The BLUE has lines through it (score lines I think they called them). Unless you stay within those lines, they'll have to be filled when you make your object. I forgot to write the price but think in the $5-8 range. I don't know if all areas would have a stucco isle, it's pretty popular down here. HPI has the BLUE and you can specify no lines.
Also if you look under Concrete Forms, often times foam is used as blocks or wall panels.
HPI also had some large 2x3x3' blocks which would save gluing but create a bit of waste. For an interesting foam project see: