Do you know how to create a popup menu? If not, check the API page for javax.swing.JPopupMenu. There is a link to the tutorial there.
javax.swing.text.JTextComponent has three methods you can use: cut(), copy() and paste(). Guess what they do
JTextField, JTextArea and all other (direct and indirect) subclasses inherit these.
As for JLabel, you can only use getText() and setText(
String). You might want to check the
Drag&Drop Tutorial, especially
CCP in a non-Text Component.