SnipIT is an Internet Explorer add-in that can be used to e-mail the selected text in the browser's window using your e-mail client of choice. The add-on currently supports Microsoft Outlook, Microsoft Hotmail, Yahoo Mail, Gmail and default installed MailTo client in Internet Explorer as e-mail client options.
SnipIT is very easy to use: just select any text fragment on the webpage you're viewing and right click on it. You'll see new options in your context menu to send that selected fragment using your e-mail desktop client or webmail service. The text is automatically copied onto the message body plus a link to the source webpage.