Does Cargo have the ability to create a new project based off a template

Like the subject says, I'm wondering if a crate author has a way to provide a template that will setup a project with default structure and files.

A great example of this would be the Phoenix project and Elixir's Mix tool. When you type mix phx.new hello it will create a new project called hello that has the frameworks required structure and sample files created for you.

Does cargo have anything like this?

No, cargo doesnt have this. There has been a proposal to add it though: https://internals.rust-lang.org/t/pre-rfc-cargo-templates/5056

You might like cargo generate.