What are Lasso tools and name them?

Answer 1

Magnetic lasso - This is very good for selecting the border between contrasting pixels. It's very useful when cutting out edges that has a different shades of color.

Polygon Lasso- This helps mainly for straight edges. This tool is great for selecting large areas quickly.

Free-hand lasso- This will require a good steady hand. If you have access to a wacom tablet it can help tremendously. Doing this with the mac finger pad is a bit tricky. It's great for selecting smaller abstract intricate spaces.