Final answer:
The temporary storage area in Windows that holds copied or cut selections is the Clipboard, which can store various types of data until replaced or pasted.
Step-by-step explanation:
The temporary Windows storage area that holds selections you copy or cut is known as the Clipboard. Whenever you use the copy or cut command, the selected data is stored on the Clipboard until you paste it elsewhere or until you copy or cut another selection, which then replaces the previous content on the Clipboard. The Clipboard can hold text, images, files, and other data types, and it serves as a convenient way to transfer information between different applications or within the same application.