A system comprising a multifunctional tool and a tool clip , comprising: I) a tool tip , said tool tip comprising a) a tool tip stator , and b) a tool tip rotor rotatable about a first axis ( A ) relative to said tool tip stator ; and II) a tool holder capable of removably engaging said tool tip , said tool holder comprising a collet , a tool tip locker, a motive source; a selector mechanism, wherein when said tool holder engages said tool tip , i) said tool tip locker comprises a locking sleeve , and wherein said locking sleeve of said tool tip locker restricts rotational and axial movement about said first axis ( A ) of said tool tip stator relative to said collet , ii) said motive source is capable of rotating said tool tip rotor about said first axis ( A ) relative to said tool tip stator , and iii) said selector mechanism can be engaged to allow the motive source to rotate the entire tool tip about said first axis ( A ) relative to said tool tip stator or to actuate the tool tip , and III) the tool clip , wherein said tool clip is suitable for storing the tool tip when said tool tip is not engaged to the tool holder , said tool clip comprises structures to assist in the insertion and removal of the tool tip from the tool holder . I) a tool tip , said tool tip comprising a) a tool tip stator , and b) a tool tip rotor rotatable about a first axis ( A ) relative to said tool tip stator ; and a) a tool tip stator , and b) a tool tip rotor rotatable about a first axis ( A ) relative to said tool tip stator ; and II) a tool holder capable of removably engaging said tool tip , said tool holder comprising a collet , a tool tip locker, a motive source; a selector mechanism, wherein when said tool holder engages said tool tip , i) said tool tip locker comprises a locking sleeve , and wherein said locking sleeve of said tool tip locker restricts rotational and axial movement about said first axis ( A ) of said tool tip stator relative to said collet , ii) said motive source is capable of rotating said tool tip rotor about said first axis ( A ) relative to said tool tip stator , and iii) said selector mechanism can be engaged to allow the motive source to rotate the entire tool tip about said first axis ( A ) relative to said tool tip stator or to actuate the tool tip , and a collet , a tool tip locker, a motive source; a selector mechanism, wherein when said tool holder engages said tool tip , i) said tool tip locker comprises a locking sleeve , and wherein said locking sleeve of said tool tip locker restricts rotational and axial movement about said first axis ( A ) of said tool tip stator relative to said collet , ii) said motive source is capable of rotating said tool tip rotor about said first axis ( A ) relative to said tool tip stator , and iii) said selector mechanism can be engaged to allow the motive source to rotate the entire tool tip about said first axis ( A ) relative to said tool tip stator or to actuate the tool tip , and i) said tool tip locker comprises a locking sleeve , and wherein said locking sleeve of said tool tip locker restricts rotational and axial movement about said first axis ( A ) of said tool tip stator relative to said collet , ii) said motive source is capable of rotating said tool tip rotor about said first axis ( A ) relative to said tool tip stator , and iii) said selector mechanism can be engaged to allow the motive source to rotate the entire tool tip about said first axis ( A ) relative to said tool tip stator or to actuate the tool tip , and III) the tool clip , wherein said tool clip is suitable for storing the tool tip when said tool tip is not engaged to the tool holder , said tool clip comprises structures to assist in the insertion and removal of the tool tip from the tool holder . <EOS>