You can click the "Make Clips" icon above the video pane, at left, to expand the screen with all the clip-making features:
You can create a title with "Clip title."
You can select your portion of the video in a few easy ways:
You can annotate your clip with the Notes field to the right.
You can share your clips with everyone or with your class or institution only, or you can keep them private, by using the "Viewable by" dropdown.
You can play your clip, add it to a new or existing playlist, and embed/link the clip to a document or webpage in two places: