Danny whilst I admire your enthusiasm and wish you luck I can't understand why you would want to?
I was taught how to make pads at college, not difficult but difficut enough to do well and very time consuming. The trickiest part was getting the leather tight without distorting the shape. We used dies - hard wood blocks with internal diameter milled into it down to around 1 cm in order to allow for different pad thicknesses. The internal areas of the die were smooth so as not to make any creases/dints/inconsistencies on the surface of the leather. You would also ideally need disc cutters for the felts so as to get it perfectly round - no good having a pad that doesn't fit snugly in its keycup without leaving gaps.
If you are making pads for just one single saxophone you're going to need around 18 -26 dies and 18-26 disc cutters.
Windcraft sell sax pads from 6mm up to 70mm at .5mm increments so if you wanted to produce all the readily available sizes thats around 120 odd dies and disc cutters.
Even for one pad it's not really worth the time and effort or cost - especially when there are a plethora of suppliers and manufacturers giving an enormous choice at a reasonable cost some with next day delivery. unless you intend to fabricate the resonators and rivets you may as well order the pads when you order the resonators.
heres a link to a guy in the US with some pictures:
http://www.martinmods.com/padprocess.html
Good luck tho. and let us know how you get on.