Cutting, but about right (7)
I believe the answer is:
excerpt
'cutting but about right' is the definition.
'excerpt' can be an answer for 'cutting' (something extracted or cut from a text). I'm not certain of the 'but about right' bit.
'cutting but about right' is the wordplay.
'cutting' means one lot of letters goes inside another (some letters cut their way into a word).
'but' becomes 'except' (I've seen this in another clue).
'about right' becomes 'r' (common abbreviation. I am not sure about the 'about' bit.).
'except' enclosing 'r' is 'EXCERPT'.
Can you help me to learn more?
(Other definitions for excerpt that I've seen before include "Passage from book, play etc" , "Just a few words" , "Selection, extract" , "1D [CLIP]" , "A passage from, music or book" .)