Most of the time (including with this image) I start out with the pen tool, and a good amount of zoom.
If an area needs retouching, I go back in with the pen tool if it needs a hard edge, or a low opacity eraser if it needs a soft edge.
If the image I need to cut out has enough contrast to separate it from the background, the magnetic lasso tool can save a ton of time, as using the pen tool, while accurate, can take a good amount of time to get just right.
If the background is a solid color that isn't present in the piece I'd like, I'll use the Select - Color Range with a low/medium fuzziness. This can require some cleanup.
Depends a lot on the image, I guess