Pasting attributes means that if you like an edit that you've done on one piece of footage, you can copy and past them onto a different piece of footage so you get the exact same effects. For example , if you change the colour of one piece of footage and want all you footage to be that same colouring, then you can copy and paste its attributes to another piece of footage.
You need the pieces of footage on your timeline.
Right click on the edited piece of footage on your timeline, this menu will come up.
Select 'Copy' and this will copy the effects from this clip (in this example its the colouring).
Then click on your other piece of footage, of which you want the effects, and select 'Paste Attributes' and the effects will paste onto the other clip, as seen below.

























