Hello All.I want to use the lasso tool to cut out an image and then place it on another picture. If I could accomplish this then i would like to resize the cut out on the new picture. I hope this makes sense. My wife would really love me if i could pull this off for her x-mas card. Thanks for any help.

I just open up the pic im gonna cut out, hit ctrl+a (select all) and copy it, open the pic im gonna put into paste original and select and delete the stuff i dont want.then right click>free transform (hold shift to keep size ratio)

this is in more depth

http://photoshopcontest.com/tutorials/16/cutting-up.html

Select with the Polygon Lasso (L) , press shift to add to your selection. Do a Selection/Feather of 1 pixel. Use the arrow tool (V) to drag your selection into another picture. Press Control+T to adjust the size of your cutout. Move your cutout around with the arrow tool. Voila!

It appears that you have answered your own question by asking it. So I am uncertain of exactly what specific information you want in order to accomplish the cited task.
So I will guess at a suggestion. Use the lasso or pen tool to make the selection of the element you want to paste in another image. Then copy that selection, followed by pasting it into the designated image. Then, under the edit menu choose "transform" and then choose the scale tool to resize the image to your specification. Remember to hold down the shift key while you are resizing, so that the element proportions remain the same.
I hope this helps, but I realize that I may have totally misconstrued your question.
P.S. The copy and paste commands are under the "edit" menu.

Sorry Michel and foot fungas, I didn't see your suggestions, when I posted mine.