The template ring is usually an accessory supplied by the manufacturer of the router that screws into the base. A metal cylinder protrudes from the base allowing it follow the edge of an object, and the router bit pokes through the cylinder to cut the workpiece. There are universal template rings offered by third party companies that are supposed to fit most makes of router. Do a search on 'router bushing ring' or 'router bushing guide'.
Only bother with Perspex if you can get it cheaply. I get mine from the junkyard recycling shop. Sometimes it masquerades as other things - the piece I used to make the jig in those pics was a shelf from some kind of shop display. Cutting the slot itself, and working Perspex in general can be tricky. MDF works just as well, as @old_picker shows, and is easier to cut. The only disadvantages are that it's not transparent so it can be difficult to line up on the neck, and that it isn't as hard-wearing.
If it were me, for a one-off or first attempt I'd go the cheapest route and just do something along the lines of the second link in my earlier post - ride the side of the router along some kind of straight-edged reference, such as some kind of metal extrusion or the factory-cut edge of a piece of MDF.