There are lots of things you can do with VLC other than merely watching videos. VLC has some features which you can use to make basic multimedia editings. Like converting a video format or removing audio of a video file.
In addition, you can also use VLC to cut a video to create clips of the video to be uploaded to social media or to create a clip on YouTube.
Technically, what VLC does is not really cutting the video. Instead, VLC will record the part of the video according to the start point and endpoint you have specified. Yes, VLC has a recording feature that you can use to record the playing video. Instead of the whole video, you can record only certain parts of the video to create video clips. VLC will save the recorded parts into an MP4 format.
To be able to start recording a video using VLC, you need to enable the Advanced Controls of VLC.

You can enable the Advanced Controls by going to the View menu and select Advanced Controls.

Once Advanced Controls is enabled, open your video and play it just like usual. Then, scroll around to the start point from where you want to trim. Once you have specified the start point click on the record button.

Play the video or move it frame by frame using the Frame by Frame button (the left-most button on the Advanced Controls) for more accuracy. After you reach the endpoint, click the record button again.
That’s it. VLC will save the recorded video on the Videos folder of your account (C:\Users\Username\Videos if you use Windows).
If you use Mac and need a video editing tool with more advanced features, you can use tools like iMovie and Final Cut Pro X. They are two of the best video editing software for Mac.