You can use a printed one. It doesn't matter since the IRS receives the same information.
Can I use regular blank paper or does it need to be perforated paper
The regular blank paper is acceptable for filing your return.
The W-2 copies must be easily separable or already separated. Perforations meet this requirement, as does cutting them yourself.
The regulation is designed so that employees don't have to cut the W-2's themselves. If the forms are printed on different pieces of paper, or they are cut, then this of course meets the requirement to be easily separable, since they're already separated.