Several embodiments of cutting tips for tools for creating voids in interior body regions are provided. The cutting tips provide for rotational and translational cutting. An actuator mechanism for deploying a cutting tip converts the rotational movement of a wheel into translational movement of a plunger rod. The actuator mechanism provides positive cutting action as the cutting tip is moved from a first, non-deployed position to a second, deployed position and from the second, deployed position to the first, non-deployed position. Methods of creating a void in bone provide one or more mechanical cutting tools that may be used in combination with one or more expandable void-creating structures to form a void of a desired size and configuration.