I've been using the polygonal lasso tool for all my cut outs. Another good method is to create a snapshot of your image, go to filter >> extract, paint round the object you want to cut out , fill it in, then hit ok. The object you drew round will remain, while the background is removed. Photoshop does a pretty good job but it's by no means perfect, so use the history brush to paint back missing detail.
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Obstacles are what you see when you take your mind off the goal.