There is a Daemonizer plugin for CherryPy included by default which is useful for getting it to start but by far the easiest way for simple cases is to use the cherryd script:
> cherryd -h
Usage: cherryd [options]
Options:
-h, --help show this help message and exit
-c CONFIG, --config=CONFIG
specify config file(s)
-d run the server as a daemon
-e ENVIRONMENT, --environment=ENVIRONMENT
apply the given config environment
-f start a fastcgi server instead of the default HTTP
server
-s start a scgi server instead of the default HTTP server
-i IMPORTS, --import=IMPORTS
specify modules to import
-p PIDFILE, --pidfile=PIDFILE
store the process id in the given file
As far as an init.d script goes I think there are examples that can be Googled.