Not for a DIY, but some companies have based their entire product line on it. www.acousticsystems.com
If you check it out a Home Depot or similar store it's very expensive. Same goes for McMaster Carr. It's typically more than $50 for a 3x3 sheet. You could punch or drill one yourself but would be very laborious and still pricey for the metal if bought new.basementjack,
I am not sure about the availability and price for perforated metals though.