To grab text:

Select some text in another application.

Select Services > Inspire Me > Grab Phrase from the application menu, or type the Command-Shift-" keyboard shortcut.
If Inspire Me isn't already running, it will automatically launch.
Inspire Me will become the frontmost application, and the selected text will appear in a topic named [Grabbed Phrases].

Edit the new phrase as desired.

Drag the new phrase from the phrases list to an existing topic, or just rename the [Grabbed Phrases] topic.