This article investigates the application of polymer tools produced via fused filament fabrication technology and compares it with traditional steel tools in a deep drawing process of 1 mm steel sheets. Different tool setups—combining polymer/metal punches with polymer/metal forming dies—were tested to measure their performance in the production of AISI 304 cups as a function of cup circularity, drawing depth, and geometry accuracy. A FEM analysis was added to investigate the tool's mechanical behaviour. Results identified different combinations of polymer and metal tools as a function of the above-described parameters; by comparing the data, no optimum solution could be found, but it was possible to identify different best options, depending on the user's target.