Definition
In the movie industry, the final released version of a film.
The group that remains when a selection process has eliminated other candidates.
Origins
From the fact that in the days of physical film for cinema, the strips of film on which various scenes and takes were recorded had to be cut into pieces and spliced together into a resultant composite strip.
See Also
How People Actually Use It
An overprized video-editing-software for apple. Got some effects in and thats it.
"Man, just got the new final cut pro x"
Source: Urban Dictionary