Cut Out

This phrasal is intransitive and has five meanings, but only four are practical. The first meaning of cut out  is:
1) To remove something using scissors, a knife or some sharp instrument. 
"The children cut out pictures from a magazine", "Cut out the seeds from the chili peppers.  They're too hot", "He cut the bone out of the steak","The surgeon cut the tumor out "

The second meaning is:
2) To stop doing something or exclude something.     
 "I'm going to cut out eating between meals", "I'm cutting out salt from my diet".  Also, there is the very common expression, "cut it out!".  This is a command for someone to stop doing something. "Hey, you kids! Cut it out! (naughty behavior) You're bothering me.. 

The third meaning is:
3) When an engine or motor stops:
"My car engine cut out at the traffic lights just as they went green".

The fourth meaning is:
4) To leave quickly
"The bank robbers said, 'we’d better cut out, the police are on the way!"

The fifth and final meaning is the most uncommon:
5) To separate livestock from a group
"The rancher cut out three prime bulls from the herd".