How to make cutout map in Blender?

How to make cutout map in Blender?

Coutmap: Assigning a bitmap or procedural map to the Cutout component makes the material partially transparent. Lighter (higher-value) areas of the map render as opaque; darker areas render as transparent; and values in between are semitransparent.

Coutmap in 3ds max -> http://help.autodesk.com/view/3DSMAX/2015/ENU/?guid=GUID-911073ED-9A73-482A-A274-6DED542F6DA3

I assume you want it for the default renderer, Blender Render and not Cycles ?

In the material settings enable Transparancy and set alpha to zero
Add the texture to a texture slot
Set the mapping coordinates (UV ?)
Set the Texture / Influence to Alpha. Change the influence value to adjust the effect on the transparancy

Attachments

trans.blend (101 KB)

In Cycles.

Please be more specific in the future if you are not using defaults

For cycles, adjust the colour mix value to adjust transparancy