Question
How the heck do i cut this baby off and how should i transplant her?  I'm guessing that i just cut the stem an inch or two below and transplant her in orchid medium like any other transplanting.  thanks Cathy

Answer
Cathy, I would make sure that you have some newly emerging roots from the new plant (called a Keiki). Keikis will develop new leaves, roots, and, sometimes, even flower on the mother plant.  The larger the Keiki, the better the chances of survival.  You may remove it at the point where it joins the mother plant's flower spike.  You didn't mention the type of orchid has this keiki.  Keiki's take on the same growth habit of their parents.  For example, if it is on a deciduous dendrobium, it will go into a rest period and lose its leaves just like the parent.  There is no rest period for a phalaenopsis keiki.