I actually think we should make a page for Paper Toads. Aren't they like, the core thing you do in Paper Jam? Those darned Paper Toad missions? They're like objects you need to retrieve, so I definitely would agree on making a Paper Toad article.
If the Paper enemies in Paper Jam have their own stats, attacks, appearances, item drop rates, and whatever, then I say yes on the creation of those articles as well.
Not sure about the paper characters, but I'm leaning on yes with those guys too, like Paper Bowser and Paper Peach. I don't think Paper Luigi needs his own article though, since his appearance is extremely minor.
The deal is that their appearance in Paper Jam is what is needed to make the split. Any appearances prior will not count, considering that they're basically the same character, just in a different art style.