WordNet (r) 3.0 (2006):

cut out
    adj 1: having been cut out; "the cut-out pieces of the dress"
    v 1: delete or remove; "Cut out the extra text"; "cut out the
         newspaper article"
    2: form and create by cutting out; "Picasso cut out a guitar
       from a piece of paper"
    3: cut off and stop; "The bicyclist was cut out by the van"
       [syn: cut off, cut out]
    4: strike or cancel by or as if by rubbing or crossing out;
       "scratch out my name on that list" [syn: scratch out, cut
       out]
    5: intercept (a player) [syn: cut down, cut out]
    6: cease operating; "The pump suddenly cut out"

Moby Thesaurus II by Grady Ward, 1.0:

239 Moby Thesaurus words for "cut out":
   abjure, abrupt, abscind, abstract, act for, alienate, amputate,
   annihilate, arrange, avulse, ban, bar, bob, calculate, cast,
   cast off, cast out, change places with, chuck, clear, clear away,
   clear out, clear the decks, clip, come off, concert, contrive,
   cooked-up, crop, crowd out, cull, cut, cut adrift, cut and run,
   cut away, cut off, cut-and-dried, cut-and-dry, delete, depart,
   deport, deracinate, design, desist, devise, dig out, dig up,
   disarticulate, disconnect, discontinue, disengage, disentangle,
   disjoin, disjoint, displace, dispose of, dissociate, disunite,
   disuse, divide, divorce, dock, double for, draw, draw out, dredge,
   dredge up, drop, eject, elide, eliminate, enucleate, eradicate,
   estrange, evolve, evulse, excavate, except, excise, exclude, exile,
   expatriate, expel, exsect, exterminate, extinguish, extirpate,
   extract, extricate, figure, fill in for, fixed, flee, fly,
   forecast, frame, get out, get quit of, get rid of, get shut of,
   ghost, ghostwrite, give over, give up, gouge out, grub up,
   have done with, hightail, in the bag, intend, isolate, knock off,
   lay plans, leave, leave off, let go, liquidate, lop,
   make a projection, make arrangements, make tracks, methodize, mine,
   mutilate, nip, nol-pros, not pursue with, on ice, organize, outlaw,
   packed, pare, part, peel, pick out, pinch-hit, plan, plan ahead,
   planned, plotted, pluck out, pluck up, prearrange, prearranged,
   preconcerted, precontrived, premeditated, preordered, program,
   project, prune, pull, pull away, pull back, pull out, pull up,
   purge, put behind one, put-up, quarry, quit, rake out, rationalize,
   relieve, relinquish, remove, renounce, replace, represent, resign,
   rigged, rip out, root out, root up, rule out, run along, run away,
   run away from, run off, schedule, schematize, schemed, segregate,
   separate, sequester, set apart, set aside, set up, set-up, shape,
   shave, shear, shut off, spell, spell off, split, stacked,
   stamp out, stand aloof, stand apart, stand aside, stand in for,
   step aside, stop, strike off, strike out, strip, strip off,
   subrogate, substitute for, subtract, succeed, supersede, supplant,
   swap places with, sweep away, systematize, take off, take out,
   take to flight, tear out, throw off, throw out, throw over,
   throw overboard, truncate, uncouple, understudy for, unearth,
   unravel, unyoke, uproot, waive, weed out, wipe out, withdraw,
   work out, work up, wrest out