abc:12:DEF
ghi:3a4:JKLM
opqr:56b:STUV
To print out the values in the second column, I can use the command
cut -d: -f2
where -d: specifies that the field delimiter is ":", -f2 specifes that the field to print is 2.
If the delimiter is the space character, the command will become
cut -d\ -f2
Notice there are 2 space characters after the backslash. The backslash will escape the space character that follows it.