Presumably you want to paste the copied items elsewhere? Just open where you want them to go eg a blank document or if using a browser having copied a URL, just long press where the text is to go and a paste option will show up
The clipboard on an Android device is in the same place as it is in all computer systems - in RAM, accessible only by copy, cut and paste commands and, in the case of Android, by apps like Clipper - Clipboard Manager (which I use - it's free and very handy - you can see the last few items you cut or copied, and select the one you want to paste into whatever app you're pasting into).