Draw a pattern for your patio stones on posterboard and cut it out. Trace this pattern onto the Styrofoam board as many times as needed.
Cut out the Styrofoam stone shapes using a heated wire cutter. This will melt the Styrofoam as it cuts, preventing the mess of little foam pellets that would result if you were to use a utility knife.
Taper the edges of the stones with a soldering iron, if so desired. If you want to make the surface of the stones uneven, you can do this with the soldering iron as well, burning indentations and divots into the top of the foam stone.
Paint the stones with acrylic or latex paint, using a color that is similar to genuine stone. Avoid oil or spray paints, as these will eat away at the Styrofoam. Mottle the surface with different colors to achieve a particularly realistic effect.
Coat the finished stones with polyurethane, to protect them against the elements.