I'm kind of new to quilting and keep hearing the term fussy cut. What is it? What does it mean? Is it just cutting something like a design or flower out of a printed fabric?

You have the right idea.

http://quilting.about.com/od/quiltin.../fussy_cut.htm
yup! :) welcome from north idaho!

First returned link from a Google search of "fussy cut quilt"
http://quilting.about.com/od/quiltin.../fussy_cut.htm

Yes, its cutting a certain flower or design so that it will be in the center of the blocks. You use more fabic because there is some waste but the look is worth the effort.

Yes it is. Fussy cutting is cutting a specific area of fabric in a specific shape. Normally there is a picture of part of a design printed on the fabric that is centered within the shape to cut.
There are some plastic templates made that make this process easier. You can make your own templates out of cardboard and do the same thing if on a tight budget. It is always good to review before fussy cutting.

Normally the shapes are square, triangles, hexagons, etc. The square will have the picture, a flower, picture, etc. in the middle. This process of fussy cutting is using a lot in I Spy quilts among others.

The process of cutting out the flowers of a printed fabric is better stated as applique with fussy cut.

Hope this is helps and is understandable.

Pam M

When I first started I thought it meant that you had to be fussy when you cut anything out. Real fussy!! LOL