"Cut" and "copy" commands put things onto the system clipboard, which has no physical location that you can see.
"Paste" will copy from the clipboard to an app. (Long press where you want to insert the item.)
The system clipboard holds only one item. Copying a new item to the clipboard replaces the old item. The contents of the clipboard goes away when the phone is restarted.
If you want a multi-item clipboard, you can download one from the Google Play Store, if your phone maker did not install one for you.