Verbs

(v)cut outdelete or remove“Cut out the extra text”, “cut out the newspaper article”
(v)cut outform and create by cutting out“Picasso cut out a guitar from a piece of paper”
(v)cut off, cut outcut off and stop“The bicyclist was cut out by the van”
(v)scratch out, cut outstrike or cancel by or as if by rubbing or crossing out“scratch out my name on that list”
(v)cut down, cut outintercept (a player)
(v)cut outcease operating“The pump suddenly cut out”

Adjectives

(s)cut outhaving been cut out“the cut-out pieces of the dress”