One of the new features introduced with Movable Type 4 is template snippets. These are small bits of template code that can be easily inserted using the drop down menu on the template editor. TextMate users will feel right at home - if the syntax editor is on, simply type the snippet trigger and hit tab for the snippet to be completed.
This new feature was just begging for a plugin and thus Snip It, a plugin which allows you to populate your own template snippets.
Movable Type versions: 4.3