Cut it out is what you snap at somebody to make them stop annoying you. Cut it out, you two, just cut it out.
It is informal, sharp and always an instruction, and it works only in the present. It is milder than swearing and firmer than asking, which is why parents use it so much.
1phrasecut it outWhat you snap at someone to make them stop annoying you.
“Cut it out before somebody gets hurt.”
cut it out is a phrase.
Also accepted in games: stop it
Practised in Phrasal Verbs