ContactCreator is a service that parses text selections for information to be compiled into an Address Book contact.
If it's only one word you have selected, it will automagically dump the word in the first name field of your new contact. If it's two words, it will automagically dump the two words in the first and last name fields of your new contact. If it's more than two, it will dump the whole lot in the Notes field of your new contact (which doesn't have a name). It will also guess that word with an '@' symbol in them are email addresses.